Raymond James & Associates Cuts Stock Position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Raymond James & Associates trimmed its holdings in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 101,154 shares of the investment management company’s stock after selling 3,938 shares during the quarter. Raymond James & Associates’ holdings in BNY Mellon Strategic Municipal Bond Fund were worth $578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Investment Advisors LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 5.8% during the 4th quarter. Capital Investment Advisors LLC now owns 303,190 shares of the investment management company’s stock valued at $1,731,000 after purchasing an additional 16,722 shares during the last quarter. Park National Corp OH purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $63,000. Almitas Capital LLC purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at $80,000. AQR Arbitrage LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 85.9% during the 3rd quarter. AQR Arbitrage LLC now owns 477,392 shares of the investment management company’s stock valued at $2,373,000 after purchasing an additional 220,560 shares during the last quarter. Finally, Saba Capital Management L.P. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 304.9% during the 3rd quarter. Saba Capital Management L.P. now owns 975,745 shares of the investment management company’s stock valued at $4,849,000 after purchasing an additional 734,751 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

DSM stock opened at $5.57 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1 year low of $4.69 and a 1 year high of $5.96. The stock’s fifty day moving average price is $5.75 and its 200-day moving average price is $5.53.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th will be paid a $0.018 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.88%.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.