BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Saba Capital Management, L.P. Purchases 2,182 Shares of Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. acquired 2,182 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction dated Wednesday, November 11th. The shares were purchased at an average price of $5.59 per share, with a total value of $12,197.38. Following the acquisition, the insider owned 5,486,415 shares of the company’s stock, valued at approximately $30,669,059.85. This trade represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock 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, November 10th, Saba Capital Management, L.P. acquired 11,757 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.60 per share, for a total transaction of $65,839.20.
• On Thursday, November 5th, Saba Capital Management, L.P. acquired 100 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.55 per share, for a total transaction of $555.00.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,992 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average price of $5.43 per share, for a total transaction of $10,816.56.
• On Tuesday, October 27th, Saba Capital Management, L.P. acquired 13,695 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased 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. bought 20,616 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased 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. bought 20,575 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased 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. bought 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired 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. purchased 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average price 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 stock was acquired 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 stock was acquired at an average cost of $5.24 per share, with a total value of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of NYSE:DSM opened at $5.54 on Friday. The company’s 50 day moving average price is $5.40 and its two-hundred day moving average price is $5.88. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12-month low of $5.07 and a 12-month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Investors 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

Hedge funds have recently added to or reduced their stakes in the stock. Bulldog Investors LLP lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% during the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock valued at $20,277,000 after acquiring an additional 65,851 shares during the period. Rivernorth Capital Management LLC raised its stake in BNY Mellon Strategic Municipal Bond Fund by 15.7% in the second quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock valued at $11,812,000 after purchasing an additional 260,230 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in BNY Mellon Strategic Municipal Bond Fund by 87.7% in the second 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 purchasing an additional 689,844 shares in the last quarter. Robinson Capital Management LLC lifted its position 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 worth $2,878,000 after purchasing an additional 41,717 shares during the period. Finally, Van ECK Associates Corp lifted its position in BNY Mellon Strategic Municipal Bond Fund by 1.6% during the second quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock worth $2,605,000 after purchasing an additional 6,849 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund that seeks to provide current income exempt from federal income tax while seeking to preserve capital. It invests primarily in municipal bonds issued by U.S. state and local governments and related public entities. The fund gives investors exposure to debt used to finance public services and infrastructure. It is managed by BNY Mellon Investment Adviser, an investment management affiliate of BNY Mellon.