DWS Strategic Municipal Income Trust (NYSE:KSM) to Issue Monthly Dividend of $0.03

DWS Strategic Municipal Income Trust (NYSE:KSM - Get Free Report) announced a monthly dividend on Monday, April 8th, Wall Street Journal reports. Investors of record on Friday, April 19th will be given a dividend of 0.0273 per share by the investment management company on Tuesday, April 30th. This represents a $0.33 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, April 18th.

DWS Strategic Municipal Income Trust has decreased its dividend payment by an average of 12.2% per year over the last three years and has increased its dividend every year for the last 1 years.

DWS Strategic Municipal Income Trust Stock Performance

KSM traded down $0.01 on Tuesday, hitting $9.56. 51,171 shares of the company were exchanged, compared to its average volume of 32,644. DWS Strategic Municipal Income Trust has a 12 month low of $7.25 and a 12 month high of $9.74. The stock's fifty day moving average is $8.97 and its 200-day moving average is $8.43.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 6,711 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $8.91 per share, for a total transaction of $59,795.01. Following the completion of the acquisition, the insider now owns 1,598,045 shares of the company's stock, valued at approximately $14,238,580.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 24,711 shares of company stock worth $217,530. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On DWS Strategic Municipal Income Trust

Institutional investors have recently bought and sold shares of the business. UBS Group AG increased its position in DWS Strategic Municipal Income Trust by 52.1% during the first quarter. UBS Group AG now owns 7,129 shares of the investment management company's stock worth $74,000 after buying an additional 2,443 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of DWS Strategic Municipal Income Trust in the fourth quarter valued at approximately $92,000. Captrust Financial Advisors acquired a new position in shares of DWS Strategic Municipal Income Trust in the second quarter valued at approximately $120,000. Susquehanna International Group LLP acquired a new position in shares of DWS Strategic Municipal Income Trust in the first quarter valued at approximately $241,000. Finally, LPL Financial LLC acquired a new position in shares of DWS Strategic Municipal Income Trust in the second quarter valued at approximately $300,000. Institutional investors and hedge funds own 53.77% of the company's stock.

About DWS Strategic Municipal Income Trust

Deutsche Strategic Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas Inc The fund invests in the fixed income markets of the United States. It primarily invests investment grade or unrated municipal securities of comparable quality, as well as in high-yield municipal securities that are below investment grade.