BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM Shares Bought by Rivernorth Capital Management LLC

Key Points

• Rivernorth Capital Management increased its DSM stake by 15.7% in the second quarter, adding 260,230 shares to own 1,920,587 shares, or 3.89% of the fund, valued at approximately $11.8 million.
• Several other institutional investors also initiated or expanded positions, including Janney Montgomery Scott, which raised its holdings by 22%.
• DSM opened at $5.83, near the lower end of its 52-week range, while the fund declared a $0.03 monthly dividend, representing an annualized yield of about 6.2%.

Rivernorth Capital Management LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,920,587 shares of the investment management company's stock after buying an additional 260,230 shares during the quarter. Rivernorth Capital Management LLC owned 3.89% of BNY Mellon Strategic Municipal Bond Fund worth $11,812,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC purchased a new stake in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth approximately $56,000. Nomura Holdings Inc. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at $74,000. BOKF NA purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $79,000. Janney Montgomery Scott LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company's stock worth $95,000 after buying an additional 2,765 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at $111,000.

BNY Mellon Strategic Municipal Bond Fund Price Performance

DSM opened at $5.83 on Monday. The company has a fifty day moving average of $5.97 and a two-hundred day moving average of $6.04. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, September 14th. This represents a c) dividend on an annualized basis and a yield of 6.2%.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc NYSE: DSM is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.

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