Almitas Capital LLC Buys New Position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Almitas Capital LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 625,461 shares of the investment management company's stock, valued at approximately $3,634,000. BNY Mellon Strategic Municipal Bond Fund makes up about 0.8% of Almitas Capital LLC's holdings, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Landscape Capital Management L.L.C. bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at approximately $84,000. Mercer Global Advisors Inc. ADV bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at $177,000. Wolverine Asset Management LLC boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 229.1% during the 4th quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company's stock valued at $207,000 after acquiring an additional 24,761 shares in the last quarter. Melfa Wealth Management Inc. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 39.5% in the 4th quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company's stock worth $256,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at about $343,000.

Insider Buying and Selling at BNY Mellon Strategic Municipal Bond Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 5,267 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average cost of $5.48 per share, with a total value of $28,863.16. Following the purchase, the insider now owns 5,146,241 shares in the company, valued at $28,201,400.68. This represents a 0.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of NYSE:DSM traded up $0.04 during midday trading on Wednesday, hitting $5.73. 30,728 shares of the stock were exchanged, compared to its average volume of 138,053. The business's 50-day moving average price is $5.72 and its 200 day moving average price is $5.87. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.28 and a 12 month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 14th will be paid a $0.018 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.22 annualized dividend and a dividend yield of 3.77%.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.