BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Stake Lessened by AQR Arbitrage LLC

AQR Arbitrage LLC cut its holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,615 shares of the investment management company's stock after selling 114,404 shares during the quarter. AQR Arbitrage LLC's holdings in BNY Mellon Strategic Municipal Bond Fund were worth $1,107,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Guggenheim Capital LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 909,118 shares of the investment management company's stock valued at $5,282,000 after purchasing an additional 35,251 shares during the last quarter. Whitebox Advisors LLC increased its position in BNY Mellon Strategic Municipal Bond Fund by 222.7% during the fourth quarter. Whitebox Advisors LLC now owns 619,946 shares of the investment management company's stock worth $3,602,000 after purchasing an additional 427,819 shares during the last quarter. Wells Fargo & Company MN raised its stake in BNY Mellon Strategic Municipal Bond Fund by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 531,115 shares of the investment management company's stock worth $3,086,000 after purchasing an additional 71,534 shares during the period. Van ECK Associates Corp boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 5.8% in the 4th quarter. Van ECK Associates Corp now owns 419,830 shares of the investment management company's stock valued at $2,439,000 after purchasing an additional 23,135 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 174,019 shares of the investment management company's stock worth $1,011,000 after buying an additional 3,506 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.4 %

Shares of NYSE:DSM traded up $0.03 during trading on Wednesday, reaching $5.72. 12,585 shares of the stock were exchanged, compared to its average volume of 159,516. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12-month low of $5.28 and a 12-month high of $6.38. The firm'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 Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 14th will be issued a $0.018 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.22 annualized dividend and a yield of 3.78%.

Insider Buying and Selling at BNY Mellon Strategic Municipal Bond Fund

In other BNY Mellon Strategic Municipal Bond Fund news, major shareholder Saba Capital Management, L.P. bought 5,267 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were bought at an average cost of $5.48 per share, with a total value of $28,863.16. Following the transaction, the insider now directly owns 5,146,241 shares in the company, valued at approximately $28,201,400.68. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

BNY Mellon Strategic Municipal Bond Fund 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.