Insider Buying: BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Acquires $10,816.56 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. bought 1,992 shares of the stock in a transaction on Wednesday, October 28th. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $10,816.56. Following the completion of the transaction, the insider directly owned 5,472,376 shares of the company’s stock, valued at approximately $29,715,001.68. The trade was a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 Tuesday, October 27th, Saba Capital Management, L.P. bought 13,695 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average price of $5.63 per share, for a total transaction of $77,102.85.
• On Monday, October 26th, Saba Capital Management, L.P. purchased 20,616 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average cost of $5.40 per share, with a total value of $111,326.40.
• 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 cost of $5.32 per share, with a total value of $109,459.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. purchased 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average price 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 shares were bought at an average cost of $5.29 per share, for a total transaction 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 shares were bought at an average cost of $5.27 per share, for a total transaction 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 stock was bought at an average cost of $5.24 per share, for a total transaction of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM stock opened at $5.54 on Friday. The stock’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $5.90. 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 Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 6.5%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors have recently modified their holdings of the company. Ackerman Capital Advisors LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 12.5% in the 3rd quarter. Ackerman Capital Advisors LLC now owns 103,029 shares of the investment management company’s stock worth $537,000 after acquiring an additional 11,431 shares during the period. Root Financial Partners LLC acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $51,000. Integrated Capital Management Inc. lifted its position in BNY Mellon Strategic Municipal Bond Fund by 10.6% during the 3rd quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock worth $160,000 after acquiring an additional 2,944 shares during the last quarter. Noble Wealth Management PBC lifted its position in BNY Mellon Strategic Municipal Bond Fund by 10.6% during the 3rd quarter. Noble Wealth Management PBC now owns 72,733 shares of the investment management company’s stock worth $379,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Robinson Capital Management LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 9.8% during the second 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 period.

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.