DWS Strategic Municipal Income Trust (NYSE:KSM - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 70,100 shares, an increase of 114.4% from the March 15th total of 32,700 shares. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is currently 2.1 days.
Insider Buying and Selling at DWS Strategic Municipal Income Trust
In other DWS Strategic Municipal Income Trust news, major shareholder Saba Capital Management, L.P. purchased 9,353 shares of the firm's stock in a transaction on Wednesday, January 17th. The stock was purchased at an average cost of $8.74 per share, for a total transaction of $81,745.22. Following the transaction, the insider now owns 1,584,655 shares in the company, valued at approximately $13,849,884.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 20,309 shares of company stock worth $178,968. 1.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Saba Capital Management L.P. lifted its stake in shares of DWS Strategic Municipal Income Trust by 57.8% in the third quarter. Saba Capital Management L.P. now owns 1,195,188 shares of the investment management company's stock valued at $9,000,000 after buying an additional 437,593 shares in the last quarter. Bulldog Investors LLP lifted its stake in shares of DWS Strategic Municipal Income Trust by 46.5% in the fourth quarter. Bulldog Investors LLP now owns 430,664 shares of the investment management company's stock valued at $3,725,000 after buying an additional 136,685 shares in the last quarter. Logan Stone Capital LLC lifted its stake in shares of DWS Strategic Municipal Income Trust by 165.1% in the fourth quarter. Logan Stone Capital LLC now owns 128,840 shares of the investment management company's stock valued at $1,053,000 after buying an additional 80,244 shares in the last quarter. Rivernorth Capital Management LLC lifted its stake in shares of DWS Strategic Municipal Income Trust by 82.2% in the first quarter. Rivernorth Capital Management LLC now owns 165,610 shares of the investment management company's stock valued at $1,712,000 after buying an additional 74,726 shares in the last quarter. Finally, Robinson Capital Management LLC lifted its stake in shares of DWS Strategic Municipal Income Trust by 445.5% in the first quarter. Robinson Capital Management LLC now owns 77,997 shares of the investment management company's stock valued at $806,000 after buying an additional 63,698 shares in the last quarter. 53.77% of the stock is owned by institutional investors.
DWS Strategic Municipal Income Trust Stock Up 0.3 %
NYSE KSM traded up $0.03 on Thursday, hitting $9.50. 50,575 shares of the company were exchanged, compared to its average volume of 33,037. DWS Strategic Municipal Income Trust has a 12 month low of $7.25 and a 12 month high of $9.74. The stock has a fifty day moving average of $8.99 and a 200-day moving average of $8.44.
DWS Strategic Municipal Income Trust Cuts Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a dividend of $0.0273 per share. This represents a $0.33 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, April 18th.
About DWS Strategic Municipal Income Trust
(
Get Free Report)
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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