DWS Strategic Municipal Income Trust (NYSE:KSM - Get Free Report) announced a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Friday, May 17th will be given a dividend of 0.026 per share by the investment management company on Friday, May 31st. This represents a $0.31 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, May 16th.
DWS Strategic Municipal Income Trust has decreased its dividend by an average of 13.9% per year over the last three years.
DWS Strategic Municipal Income Trust Stock Performance
NYSE:KSM remained flat at $9.60 during mid-day trading on Wednesday. The company had a trading volume of 63,119 shares, compared to its average volume of 32,046. The stock's fifty day moving average price is $9.25 and its 200-day moving average price is $8.71. DWS Strategic Municipal Income Trust has a 1-year low of $7.25 and a 1-year high of $9.74.
Insider Buying and Selling
In other news, major shareholder Saba Capital Management, L.P. purchased 6,711 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $8.91 per share, with a total value of $59,795.01. Following the acquisition, the insider now owns 1,598,045 shares in the company, valued at approximately $14,238,580.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 10,956 shares of company stock valued at $97,223. Insiders own 1.00% of the company's stock.
About DWS Strategic Municipal Income Trust
(
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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.
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