Advisors Asset Management Inc. lowered its stake in DREYFUS STRATEG (NYSE:DSM) by 14.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,525 shares of the investment management company’s stock after selling 24,006 shares during the period. Advisors Asset Management Inc.’s holdings in DREYFUS STRATEG were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in DREYFUS STRATEG during the second quarter valued at about $102,000. National Planning Corp purchased a new stake in DREYFUS STRATEG during the second quarter valued at about $215,000. Finally, Harbour Capital Advisors LLC raised its stake in DREYFUS STRATEG by 751.0% in the second quarter. Harbour Capital Advisors LLC now owns 34,040 shares of the investment management company’s stock valued at $4,000,000 after buying an additional 30,040 shares during the period. 7.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DREYFUS STRATEG (DSM) opened at 8.62 on Tuesday. The firm’s 50-day moving average is $8.68 and its 200 day moving average is $8.47. DREYFUS STRATEG has a 52-week low of $7.88 and a 52-week high of $9.10.

The company also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 11th will be issued a $0.0415 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Wednesday, August 9th.

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Dreyfus Strategic Municipal Bond Fund, Inc is a diversified closed-end management investment company. The Fund’s investment objective is to seek to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. Under normal market conditions, the Fund invests at least 80% of its net assets in municipal bonds considered investment grade or the unrated equivalent.

Institutional Ownership by Quarter for DREYFUS STRATEG (NYSE:DSM)

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