Insider Buying: BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Director Buys $11,534.46 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Director Bradley Skapyak bought 1,894 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $6.09 per share, with a total value of $11,534.46. Following the completion of the transaction, the director owned 1,894 shares of the company’s stock, valued at $11,534.46. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

BNY Mellon Strategic Municipal Bond Fund Price Performance

NYSE:DSM opened at $6.10 on Friday. The firm has a 50-day moving average of $6.07 and a 200-day moving average of $6.07. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.45 and a one year high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, June 11th. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 5.9%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several hedge funds and other institutional investors have recently made changes to their positions in DSM. Karpus Management Inc. boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 3,220.3% during the second quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company’s stock worth $4,796,000 after purchasing an additional 830,610 shares during the last quarter. Rivernorth Capital Management LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 98.7% during the first quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company’s stock worth $9,979,000 after purchasing an additional 824,765 shares during the last quarter. Bulldog Investors LLP boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 26.0% during the fourth quarter. Bulldog Investors LLP now owns 3,308,091 shares of the investment management company’s stock worth $20,411,000 after purchasing an additional 683,653 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 29.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,239,418 shares of the investment management company’s stock worth $7,647,000 after purchasing an additional 278,303 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth about $1,234,000.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.