BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM Stake Cut by Hennion & Walsh Asset Management Inc.

Key Points

• Hennion & Walsh Asset Management cut its stake in BNY Mellon Strategic Municipal Bond Fund (NYSE: DSM) by 38.2% in Q4, selling 240,507 shares and leaving 388,511 shares worth about $2.40 million (≈0.77% ownership).
• The fund declared a monthly dividend of $0.026 per share, payable April 30 with record/ex-dividend dates on April 14, implying an annualized yield of about 5.2%.
• DSM shares trade near $5.95 with a 50-day/200-day moving average around $6.10/$6.04 and a 52-week range of $5.28–$6.30, while other institutions made modest purchases or adjustments to their stakes.

Hennion & Walsh Asset Management Inc. lessened its holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 38.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,511 shares of the investment management company's stock after selling 240,507 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.77% of BNY Mellon Strategic Municipal Bond Fund worth $2,397,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth about $48,000. Cerity Partners LLC bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter valued at about $56,000. Nomura Holdings Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the third quarter worth about $74,000. Lee Financial Co acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the third quarter worth about $172,000. Finally, Geneos Wealth Management Inc. lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 51.8% in the second quarter. Geneos Wealth Management Inc. now owns 42,860 shares of the investment management company's stock worth $240,000 after acquiring an additional 14,630 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of DSM stock opened at $5.95 on Wednesday. The business has a 50 day moving average of $6.10 and a two-hundred day moving average of $6.04. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52 week low of $5.28 and a 52 week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be given a dividend of $0.026 per share. The ex-dividend date is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 5.2%.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.