Capstone Investment Advisors LLC Acquires Shares of 149,590 BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Capstone Investment Advisors LLC bought a new stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 149,590 shares of the investment management company's stock, valued at approximately $869,000.

A number of other hedge funds have also modified their holdings of the business. Landscape Capital Management L.L.C. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $84,000. Mercer Global Advisors Inc. ADV purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at $177,000. Bank of America Corp DE increased 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 buying an additional 32,818 shares during the period. Wolverine Asset Management LLC boosted its position 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 worth $207,000 after acquiring an additional 24,761 shares in the last quarter. Finally, Melfa Wealth Management Inc. lifted its position in BNY Mellon Strategic Municipal Bond Fund by 39.5% in the fourth quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company's stock valued at $256,000 after acquiring an additional 12,500 shares during the last quarter.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 5,267 shares of the business'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 transaction, the insider now owns 5,146,241 shares of the company's stock, valued at $28,201,400.68. This represents a 0.10 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.3 %

DSM traded up $0.02 on Friday, hitting $5.76. 31,305 shares of the company traded hands, compared to its average volume of 138,261. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12-month low of $5.28 and a 12-month high of $6.38. The company has a 50 day moving average of $5.70 and a 200-day moving average of $5.86.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.018 per share. 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 3.75%.

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.