BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Acquires $72,112.88 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. purchased 13,762 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were bought at an average price of $5.24 per share, for a total transaction of $72,112.88. Following the purchase, the insider directly owned 5,193,203 shares in the company, valued at $27,212,383.72. This represents a 0.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, October 20th, Saba Capital Management, L.P. purchased 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average cost of $5.32 per share, with a total value of $77,528.36.
• On Monday, October 19th, Saba Capital Management, L.P. acquired 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average price of $5.29 per share, with a total value of $365,433.20.
• On Friday, October 16th, Saba Capital Management, L.P. acquired 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average price of $5.27 per share, with a total value of $730,643.34.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM opened at $5.31 on Thursday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1-year low of $5.07 and a 1-year high of $6.30. The company’s fifty day moving average price is $5.49 and its 200-day moving average price is $5.86.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.36 dividend on an annualized basis and a yield of 6.8%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bulldog Investors LLP grew its stake in BNY Mellon Strategic Municipal Bond Fund by 2.0% during the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock valued at $20,277,000 after purchasing an additional 65,851 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 15.7% in the second quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock valued at $11,812,000 after purchasing an additional 260,230 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 87.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock valued at $9,079,000 after purchasing an additional 689,844 shares during the period. Robinson Capital Management LLC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 9.8% in the second quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock valued at $2,878,000 after purchasing an additional 41,717 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 1.6% in the second quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock worth $2,605,000 after purchasing an additional 6,849 shares during the last quarter.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund (NYSE: DSM) is a closed-end investment company that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in municipal bonds and other municipal obligations issued by states, cities, counties, public authorities and other governmental entities in the United States.

The fund’s portfolio may include a range of tax-exempt securities with different maturities, credit qualities and structures. Its investments are designed to generate income for shareholders while providing exposure to the U.S.