Sit Investment Associates Inc. Increases Stock Position in BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Sit Investment Associates Inc. grew its holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,862,381 shares of the investment management company’s stock after purchasing an additional 195,867 shares during the quarter. Sit Investment Associates Inc.’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $11,491,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cerity Partners LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter worth approximately $56,000. Nomura Holdings Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at $74,000. BOKF NA acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $79,000. Janney Montgomery Scott LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock valued at $95,000 after buying an additional 2,765 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $111,000.

BNY Mellon Strategic Municipal Bond Fund Price Performance

NYSE DSM opened at $6.12 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $6.30. The business has a fifty day moving average of $6.09 and a 200-day moving average of $6.08.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

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

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.