Pathstone Holdings LLC Raises Stock Holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Pathstone Holdings LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,474,029 shares of the investment management company's stock after acquiring an additional 332,266 shares during the quarter. Pathstone Holdings LLC's holdings in BNY Mellon Strategic Municipal Bond Fund were worth $14,397,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DSM. Landscape Capital Management L.L.C. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth $84,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth $177,000. Bank of America Corp DE raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2,269.6% in the fourth quarter. Bank of America Corp DE now owns 34,264 shares of the investment management company's stock worth $199,000 after purchasing an additional 32,818 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 229.1% in the fourth quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company's stock worth $207,000 after purchasing an additional 24,761 shares during the last quarter. Finally, Melfa Wealth Management Inc. raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 39.5% in the fourth quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company's stock worth $256,000 after purchasing an additional 12,500 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.0%

Shares of DSM stock traded up $0.06 during mid-day trading on Friday, hitting $5.73. The company's stock had a trading volume of 41,897 shares, compared to its average volume of 136,426. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52-week low of $5.28 and a 52-week high of $6.38. The business has a 50-day moving average price of $5.68 and a 200 day moving average price of $5.85.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be paid a $0.018 dividend. This represents a $0.22 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, May 14th.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 5,267 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction that occurred on Tuesday, April 15th. The stock was bought at an average price of $5.48 per share, for a total transaction of $28,863.16. Following the completion of the transaction, the insider now owns 5,146,241 shares in the company, valued at $28,201,400.68. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund 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.