LPL Financial LLC Grows Holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Key Points

• LPL Financial LLC increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 7.3% in Q1, owning 712,095 shares worth approximately $4.1 million.
• Several institutional investors, including Saba Capital Management and Pathstone Holdings, also raised their stakes in the fund during the previous quarter.
• BNY Mellon Strategic Municipal Bond Fund announced a monthly dividend of $0.023 per share, with an annualized yield of 4.9%, to be paid on August 29.

LPL Financial LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 712,095 shares of the investment management company's stock after buying an additional 48,150 shares during the quarter. LPL Financial LLC owned 1.44% of BNY Mellon Strategic Municipal Bond Fund worth $4,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Saba Capital Management L.P. boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2.9% during the 4th quarter. Saba Capital Management L.P. now owns 4,127,582 shares of the investment management company's stock valued at $23,981,000 after buying an additional 116,315 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 15.5% during the 4th quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company's stock valued at $14,397,000 after buying an additional 332,266 shares during the last quarter. Bulldog Investors LLP boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 156.2% during the 4th quarter. Bulldog Investors LLP now owns 2,101,361 shares of the investment management company's stock valued at $12,223,000 after buying an additional 1,281,127 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 4.0% during the 4th quarter. Guggenheim Capital LLC now owns 909,118 shares of the investment management company's stock valued at $5,282,000 after buying an additional 35,251 shares during the last quarter. Finally, Almitas Capital LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at approximately $3,634,000.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 6,350 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction that occurred on Thursday, June 26th. The shares were purchased at an average cost of $5.55 per share, for a total transaction of $35,242.50. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.2%

BNY Mellon Strategic Municipal Bond Fund stock opened at $5.63 on Friday. The stock has a 50 day moving average of $5.58 and a 200-day moving average of $5.69. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52 week low of $5.28 and a 52 week high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be paid a dividend of $0.023 per share. The ex-dividend date is Wednesday, August 13th. This represents a c) annualized dividend and a yield of 4.9%.

BNY Mellon Strategic Municipal Bond Fund Company 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.

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