BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM Shares Sold by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. sold 45,075 shares of BNY Mellon Strategic Municipal Bond Fund, reducing its holdings by 8.7% to 472,364 shares, valued at approximately $2.726 million.
• The BNY Mellon Strategic Municipal Bond Fund recently announced a monthly dividend of $0.023 per share, yielding 4.9%, with an ex-dividend date of August 13th.
• Major shareholder Saba Capital Management, L.P. acquired 6,350 additional shares of the fund at an average cost of $5.55, increasing its ownership stake.

Sit Investment Associates Inc. lowered its stake in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,364 shares of the investment management company's stock after selling 45,075 shares during the quarter. Sit Investment Associates Inc. owned about 0.96% of BNY Mellon Strategic Municipal Bond Fund worth $2,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DSM. Elequin Capital LP acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $36,000. Smallwood Wealth Investment Management LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the first quarter worth about $37,000. CJM Wealth Advisers Ltd. bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 1st quarter valued at approximately $86,000. Janney Montgomery Scott LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 1st quarter worth approximately $111,000. Finally, Aviance Capital Partners LLC lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 11.2% in the 1st 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 in the last quarter.

Insider Buying and Selling at BNY Mellon Strategic Municipal Bond Fund

In related news, major shareholder Saba Capital Management, L.P. bought 6,350 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was bought at an average cost of $5.55 per share, with a total value of $35,242.50. Following the completion of the purchase, the insider owned 5,152,591 shares of the company's stock, valued at approximately $28,596,880.05. The trade was a 0.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM stock traded up $0.0050 during trading hours on Thursday, reaching $5.5450. The company's stock had a trading volume of 22,563 shares, compared to its average volume of 140,362. The firm's fifty day simple moving average is $5.58 and its 200 day simple moving average is $5.69. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.28 and a one year high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

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 given a dividend of $0.023 per share. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, August 13th.

About BNY Mellon Strategic Municipal Bond Fund

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.