BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM Shares Acquired by Almitas Capital LLC

Key Points

• Almitas Capital LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 36.1%, now holding 851,087 shares after acquiring an additional 225,626 shares in the first quarter.
• Several institutional investors, including Raymond James Financial and Bank of America Corp DE, have also raised their stakes in the BNY Mellon Strategic Municipal Bond Fund during the fourth quarter.
• The fund recently announced a monthly dividend of $0.023 per share, with a dividend yield of 4.9%, to be paid on October 1st.

Almitas Capital LLC lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 36.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 851,087 shares of the investment management company's stock after buying an additional 225,626 shares during the period. BNY Mellon Strategic Municipal Bond Fund comprises 1.6% of Almitas Capital LLC's investment portfolio, making the stock its 9th biggest holding. Almitas Capital LLC owned approximately 1.72% of BNY Mellon Strategic Municipal Bond Fund worth $4,911,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Invesco Ltd. increased its stake in BNY Mellon Strategic Municipal Bond Fund by 5.3% in the 1st quarter. Invesco Ltd. now owns 41,405 shares of the investment management company's stock valued at $239,000 after purchasing an additional 2,094 shares in the last quarter. Integrated Capital Management Inc. grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 7.5% during the 1st quarter. Integrated Capital Management Inc. now owns 33,293 shares of the investment management company's stock valued at $192,000 after buying an additional 2,311 shares during the last quarter. Aviance Capital Partners LLC boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 11.2% during the first quarter. Aviance Capital Partners LLC now owns 30,172 shares of the investment management company's stock worth $174,000 after purchasing an additional 3,038 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter worth $37,000.

BNY Mellon Strategic Municipal Bond Fund Trading Up 1.2%

Shares of DSM traded up $0.07 during trading hours on Friday, hitting $5.74. The stock had a trading volume of 183,898 shares, compared to its average volume of 87,625. The company's fifty day simple moving average is $5.60 and its 200 day simple moving average is $5.66. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12-month low of $5.28 and a 12-month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $0.023 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a c) annualized dividend and a yield of 4.8%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 6,350 shares of the business's stock in a transaction on Thursday, June 26th. The shares were bought at an average cost of $5.55 per share, with a total value of $35,242.50. Following the completion of the transaction, the insider directly owned 5,152,591 shares of the company's stock, valued at $28,596,880.05. This trade represents a 0.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.