Raymond James Financial Services Advisors Inc. Buys New Shares in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,979 shares of the investment management company’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Saba Capital Management L.P. lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 304.9% in 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 acquiring an additional 734,751 shares during the last quarter. Robinson Capital Management LLC boosted its position in BNY Mellon Strategic Municipal Bond Fund by 26.6% during the 3rd quarter. Robinson Capital Management LLC now owns 901,145 shares of the investment management company’s stock valued at $4,474,000 after buying an additional 189,214 shares during the period. AQR Arbitrage LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 85.9% in the 3rd quarter. AQR Arbitrage LLC now owns 477,392 shares of the investment management company’s stock worth $2,373,000 after acquiring an additional 220,560 shares during the last quarter. Park National Corp OH purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at about $63,000. Finally, Almitas Capital LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the third quarter valued at about $80,000.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of DSM stock opened at $5.57 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $4.69 and a fifty-two week high of $5.91. The business’s 50 day moving average price is $5.74 and its 200-day moving average price is $5.53.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently announced 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. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, April 11th.

BNY Mellon Strategic Municipal Bond Fund Profile

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.