BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Director Bradley Skapyak Buys 1,894 Shares

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Director Bradley Skapyak bought 1,894 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of $6.09 per share, with a total value of $11,534.46. Following the acquisition, the director owned 1,894 shares of the company’s stock, valued at $11,534.46. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of BNY Mellon Strategic Municipal Bond Fund stock traded up $0.03 during midday trading on Tuesday, reaching $6.12. 62,728 shares of the company’s stock traded hands, compared to its average volume of 96,352. The stock has a 50 day moving average of $6.05 and a 200-day moving average of $6.07. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.45 and a 12 month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be issued a dividend of $0.03 per share. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Thursday, June 11th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Institutional investors have recently added to or reduced their stakes in the company. Closed End Fund Advisors Inc. bought a new position in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth $619,000. Bulldog Investors LLP grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% in the first quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock worth $20,277,000 after acquiring an additional 65,851 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the first quarter worth $423,000. Sit Investment Associates Inc. grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 11.8% in the fourth quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock worth $11,491,000 after acquiring an additional 195,867 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after acquiring an additional 2,765 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.