BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Saba Capital Management, L.P. Buys 14,573 Shares of Company Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. purchased 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction that occurred on Tuesday, October 20th. The stock was purchased at an average price of $5.32 per share, with a total value of $77,528.36. Following the transaction, the insider owned 5,415,498 shares in the company, valued at $28,810,449.36. This represents a 0.27% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, October 19th, Saba Capital Management, L.P. acquired 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.29 per share, with a total value of $365,433.20.
• On Friday, October 16th, Saba Capital Management, L.P. acquired 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.27 per share, with a total value of $730,643.34.
• On Thursday, October 15th, Saba Capital Management, L.P. acquired 13,762 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average price of $5.24 per share, for a total transaction of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.1%

NYSE DSM opened at $5.31 on Thursday. The firm’s 50 day moving average price is $5.49 and its two-hundred day moving average price is $5.86. BNY Mellon Strategic Municipal Bond Fund, Inc. has a twelve month low of $5.07 and a twelve month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, October 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bulldog Investors LLP lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 2.0% in the 1st 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 in the last quarter. Rivernorth Capital Management LLC boosted its position in BNY Mellon Strategic Municipal Bond Fund by 15.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock worth $11,812,000 after acquiring an additional 260,230 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in BNY Mellon Strategic Municipal Bond Fund by 87.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock valued at $9,079,000 after acquiring an additional 689,844 shares in the last quarter. Robinson Capital Management LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund by 9.8% during the 2nd quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock valued at $2,878,000 after acquiring an additional 41,717 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in BNY Mellon Strategic Municipal Bond Fund by 1.6% during the 2nd quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock valued at $2,605,000 after acquiring an additional 6,849 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund (NYSE: DSM) is a closed-end investment company that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in municipal bonds and other municipal obligations issued by states, cities, counties, public authorities and other governmental entities in the United States.

The fund’s portfolio may include a range of tax-exempt securities with different maturities, credit qualities and structures. Its investments are designed to generate income for shareholders while providing exposure to the U.S.