CJM Wealth Advisers Ltd. Purchases Shares of 14,922 BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

CJM Wealth Advisers Ltd. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,922 shares of the investment management company’s stock, valued at approximately $86,000.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at $343,000. HighTower Advisors LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 15.3% in the fourth quarter. HighTower Advisors LLC now owns 127,956 shares of the investment management company’s stock valued at $743,000 after purchasing an additional 16,964 shares during the last quarter. Whitebox Advisors LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 222.7% in the fourth quarter. Whitebox Advisors LLC now owns 619,946 shares of the investment management company’s stock valued at $3,602,000 after purchasing an additional 427,819 shares during the last quarter. Pathstone Holdings LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 15.5% in the fourth quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company’s stock valued at $14,397,000 after purchasing an additional 332,266 shares during the last quarter. Finally, Bulldog Investors LLP increased its stake in BNY Mellon Strategic Municipal Bond Fund by 156.2% in the fourth quarter. Bulldog Investors LLP now owns 2,101,361 shares of the investment management company’s stock valued at $12,223,000 after purchasing an additional 1,281,127 shares during the last quarter.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 5,267 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was bought at an average cost of $5.48 per share, for a total transaction of $28,863.16. Following the completion of the purchase, the insider now directly owns 5,146,241 shares of the company’s stock, valued at $28,201,400.68. The trade was a 0.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of NYSE:DSM opened at $5.55 on Monday. The business has a 50-day moving average of $5.61 and a two-hundred day moving average of $5.81. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.28 and a 12 month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.018 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.22 annualized dividend and a yield of 3.90%.

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.