DWS Strategic Municipal Income Trust (NYSE:KSM) Plans Monthly Dividend of $0.04

DWS Strategic Municipal Income Trust (NYSE:KSMGet Rating) declared a monthly dividend on Tuesday, May 10th, Wall Street Journal reports. Stockholders of record on Monday, May 16th will be paid a dividend of 0.04 per share by the investment management company on Tuesday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Friday, May 13th.

DWS Strategic Municipal Income Trust has decreased its dividend by an average of 3.5% per year over the last three years.

NYSE:KSM traded up $0.03 during midday trading on Tuesday, reaching $9.40. 21,953 shares of the stock traded hands, compared to its average volume of 27,252. The business has a fifty day moving average of $10.04. DWS Strategic Municipal Income Trust has a 12 month low of $9.29 and a 12 month high of $12.99.

Several hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of DWS Strategic Municipal Income Trust by 4.6% in the fourth quarter. Wells Fargo & Company MN now owns 32,712 shares of the investment management company’s stock valued at $398,000 after acquiring an additional 1,439 shares during the period. Morgan Stanley grew its holdings in DWS Strategic Municipal Income Trust by 7.5% in the third quarter. Morgan Stanley now owns 24,687 shares of the investment management company’s stock worth $303,000 after purchasing an additional 1,725 shares during the period. Invesco Ltd. grew its holdings in DWS Strategic Municipal Income Trust by 49.1% in the second quarter. Invesco Ltd. now owns 31,240 shares of the investment management company’s stock worth $393,000 after purchasing an additional 10,293 shares during the period. LPL Financial LLC purchased a new stake in DWS Strategic Municipal Income Trust in the fourth quarter worth about $131,000. Finally, Citadel Advisors LLC purchased a new stake in DWS Strategic Municipal Income Trust in the third quarter worth about $262,000. Hedge funds and other institutional investors own 36.14% of the company’s stock.

About DWS Strategic Municipal Income Trust (Get Rating)

Deutsche Strategic Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas Inc The fund invests in the fixed income markets of the United States. It primarily invests investment grade or unrated municipal securities of comparable quality, as well as in high-yield municipal securities that are below investment grade.

Further Reading

Dividend History for DWS Strategic Municipal Income Trust (NYSE:KSM)

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