59,040 Shares in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 59,040 shares of the investment management company's stock, valued at approximately $343,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $84,000. Wolverine Asset Management LLC raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 229.1% during the fourth quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company's stock worth $207,000 after acquiring an additional 24,761 shares in the last quarter. Melfa Wealth Management Inc. raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 39.5% during the fourth quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company's stock worth $256,000 after acquiring an additional 12,500 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 7.6% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 107,273 shares of the investment management company's stock worth $623,000 after acquiring an additional 7,563 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in BNY Mellon Strategic Municipal Bond Fund by 15.3% during the fourth quarter. HighTower Advisors LLC now owns 127,956 shares of the investment management company's stock worth $743,000 after buying an additional 16,964 shares during the last quarter.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 5,267 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average cost of $5.48 per share, with a total value of $28,863.16. Following the completion of the transaction, the insider now directly owns 5,146,241 shares in the company, valued at $28,201,400.68. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.6%

BNY Mellon Strategic Municipal Bond Fund stock traded up $0.04 during mid-day trading on Thursday, hitting $5.75. 19,038 shares of the company's stock were exchanged, compared to its average volume of 137,135. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1-year low of $5.28 and a 1-year high of $6.38. The stock has a 50 day moving average of $5.68 and a two-hundred day moving average of $5.85.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

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 given a $0.018 dividend. This represents a $0.22 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Wednesday, May 14th.

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.