Insider Buying: BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Acquires $111,326.40 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. bought 20,616 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction dated Monday, October 26th. The stock was acquired at an average cost of $5.40 per share, with a total value of $111,326.40. Following the transaction, the insider owned 5,456,689 shares of the company’s stock, valued at $29,466,120.60. This trade represents a 0.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, October 21st, Saba Capital Management, L.P. purchased 20,575 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average price of $5.32 per share, with a total value of $109,459.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. acquired 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average cost of $5.32 per share, with a total value of $77,528.36.
• On Monday, October 19th, Saba Capital Management, L.P. acquired 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought 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. purchased 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought 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 cost of $5.24 per share, with a total value of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Trading Up 1.0%

DSM traded up $0.06 on Tuesday, hitting $5.49. 260,233 shares of the stock were exchanged, compared to its average volume of 127,607. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.07 and a 12 month high of $6.30. The business has a 50-day moving average of $5.47 and a two-hundred day moving average of $5.92.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, October 14th. This represents a $0.36 annualized dividend and a dividend yield of 6.6%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $51,000. Integrated Capital Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 10.6% during the third quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock worth $160,000 after buying an additional 2,944 shares in the last quarter. Noble Wealth Management PBC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 10.6% during the third quarter. Noble Wealth Management PBC now owns 72,733 shares of the investment management company’s stock worth $379,000 after buying an additional 7,000 shares in the last quarter. Robinson Capital Management LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 9.8% in 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 during the last quarter. Finally, Readystate Asset Management LP bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at $88,000.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) is a closed-end investment fund managed within BNY Mellon’s investment-management business. The fund is designed to provide investors with current income that is generally 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 related entities across the United States. Its portfolio may include bonds financing public infrastructure and services such as schools, transportation systems, utilities and health-care facilities.

BNY Mellon Strategic Municipal Bond Fund is intended for investors seeking tax-advantaged income and exposure to the U.S.