Rivernorth Capital Management LLC Raises Position in BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Rivernorth Capital Management LLC raised its position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 15.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,920,587 shares of the investment management company’s stock after acquiring an additional 260,230 shares during the quarter. Rivernorth Capital Management LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $11,812,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. raised its stake in BNY Mellon Strategic Municipal Bond Fund by 0.7% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company’s stock valued at $2,105,000 after purchasing an additional 2,512 shares during the last quarter. Janney Montgomery Scott LLC lifted 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 buying an additional 2,765 shares in the last quarter. Noble Wealth Management PBC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 7.2% in the second quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after buying an additional 4,400 shares in the last quarter. Wells Fargo & Company MN boosted its position in BNY Mellon Strategic Municipal Bond Fund by 1.2% during the fourth quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company’s stock worth $2,497,000 after acquiring an additional 4,692 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in BNY Mellon Strategic Municipal Bond Fund by 15.9% during the fourth quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock worth $262,000 after acquiring an additional 5,833 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

DSM stock opened at $5.83 on Monday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.61 and a 12 month high of $6.30. The firm has a 50-day moving average of $5.97 and a two-hundred day moving average of $6.04.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a $0.03 dividend. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Monday, September 14th.

About BNY Mellon Strategic Municipal Bond Fund

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.