BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Shares Bought by Saba Capital Management L.P.

Saba Capital Management L.P. raised its position in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,127,582 shares of the investment management company's stock after buying an additional 116,315 shares during the quarter. Saba Capital Management L.P.'s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $23,981,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Landscape Capital Management L.L.C. purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth $84,000. Mercer Global Advisors Inc. ADV acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth about $177,000. Bank of America Corp DE grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2,269.6% during the fourth quarter. Bank of America Corp DE now owns 34,264 shares of the investment management company's stock worth $199,000 after acquiring an additional 32,818 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 229.1% during the fourth 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. Finally, Melfa Wealth Management Inc. raised its position in shares of 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 valued at $256,000 after purchasing an additional 12,500 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.1%

DSM stock traded down $0.01 during trading on Thursday, reaching $5.66. The company had a trading volume of 42,264 shares, compared to its average volume of 137,571. BNY Mellon Strategic Municipal Bond Fund, Inc. has a twelve month low of $5.28 and a twelve month high of $6.38. The firm has a 50-day simple moving average of $5.67 and a 200-day simple moving average of $5.84.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.82%.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 5,267 shares of the business's stock in a transaction dated 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 completion of the acquisition, the insider now owns 5,146,241 shares of the company's stock, valued at approximately $28,201,400.68. This trade represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

About BNY Mellon Strategic Municipal Bond Fund

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.