DWS Strategic Municipal Income Trust (NYSE:KSM) Announces $0.03 Monthly Dividend

Posted by Teresa Graham on May 9th, 2024

DWS Strategic Municipal Income Trust (NYSE:KSM – Get Free Report) declared a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.026 per share by the investment management company on Friday, May 31st. This represents a $0.31 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, May 16th.

DWS Strategic Municipal Income Trust has decreased its dividend by an average of 13.9% annually over the last three years.

DWS Strategic Municipal Income Trust Stock Performance

DWS Strategic Municipal Income Trust stock opened at $9.60 on Thursday. The business has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $8.71. DWS Strategic Municipal Income Trust has a 52-week low of $7.25 and a 52-week high of $9.74.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 6,711 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average cost of $8.91 per share, for a total transaction of $59,795.01. Following the completion of the transaction, the insider now owns 1,598,045 shares of the company’s stock, valued at $14,238,580.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 10,956 shares of company stock worth $97,223 over the last quarter. Insiders own 1.00% of the company’s stock.

DWS Strategic Municipal Income Trust Company Profile

(Get Free Report)

Deutsche Strategic Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas Inc The fund invests in the fixed income markets of the United States. It primarily invests investment grade or unrated municipal securities of comparable quality, as well as in high-yield municipal securities that are below investment grade.