BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Plans Monthly Dividend of $0.02

Key Points

• BNY Mellon Strategic Municipal Bond Fund announced a monthly dividend of $0.02 per share, representing an annualized yield of 5.0%, with an ex-dividend date set for August 13th.
• As of the latest trading session, the fund's stock price increased by 0.6%, reaching $5.52, while trading volume was below its average.
• The fund primarily invests in investment-grade municipal bonds that are exempt from federal income tax, aiming to provide fixed income for investors.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) declared a monthly dividend on Thursday, July 31st, Wall Street Journal reports. Shareholders of record on Wednesday, August 13th will be given a dividend of 0.023 per share by the investment management company on Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, August 13th.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of DSM traded up $0.01 during mid-day trading on Monday, reaching $5.54. The stock had a trading volume of 5,698 shares, compared to its average volume of 143,546. BNY Mellon Strategic Municipal Bond Fund has a 12 month low of $5.28 and a 12 month high of $6.38. The business has a fifty day moving average of $5.57 and a 200 day moving average of $5.71.

Insider Buying and Selling at BNY Mellon Strategic Municipal Bond Fund

In related news, major shareholder Saba Capital Management, L.P. bought 6,350 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $35,242.50. Following the completion of the transaction, the insider owned 5,152,591 shares in the company, valued at $28,596,880.05. The trade was a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the first quarter worth $111,000. Raymond James Financial Inc. bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $343,000. Whitebox Advisors LLC boosted its position in shares of 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 acquiring an additional 427,819 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.5% during the fourth quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company's stock worth $14,397,000 after acquiring an additional 332,266 shares during the last quarter. Finally, Bank of America Corp DE boosted its position 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.

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.