Whitebox Advisors LLC Increases Stock Holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Whitebox Advisors LLC lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Free Report) by 222.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,946 shares of the investment management company's stock after buying an additional 427,819 shares during the quarter. Whitebox Advisors LLC's holdings in BNY Mellon Strategic Municipal Bond Fund were worth $3,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 174,019 shares of the investment management company's stock valued at $1,011,000 after buying an additional 3,506 shares during the period. Thomas J. Herzfeld Advisors Inc. grew its position in BNY Mellon Strategic Municipal Bond Fund by 7.6% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 107,273 shares of the investment management company's stock valued at $623,000 after acquiring an additional 7,563 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 6.6% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 131,521 shares of the investment management company's stock worth $764,000 after purchasing an additional 8,097 shares during the period. Park Avenue Securities LLC lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 6.3% during the fourth quarter. Park Avenue Securities LLC now owns 162,065 shares of the investment management company's stock worth $942,000 after purchasing an additional 9,666 shares in the last quarter. Finally, Melfa Wealth Management Inc. boosted its position in BNY Mellon Strategic Municipal Bond Fund by 39.5% in the 4th quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company's stock valued at $256,000 after buying an additional 12,500 shares during the period.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 5,267 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average cost of $5.48 per share, with a total value of $28,863.16. Following the completion of the acquisition, the insider now directly owns 5,146,241 shares of the company's stock, valued at approximately $28,201,400.68. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.4 %

NYSE DSM traded up $0.03 on Tuesday, hitting $5.71. 63,349 shares of the stock were exchanged, compared to its average volume of 138,454. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $6.38. The company has a 50-day moving average price of $5.73 and a 200-day moving average price of $5.87.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.018 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Wednesday, May 14th.

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.