Wells Fargo & Company MN Acquires 71,534 Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Wells Fargo & Company MN lifted its position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,115 shares of the investment management company’s stock after buying an additional 71,534 shares during the quarter. Wells Fargo & Company MN’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $3,086,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DSM. Rivernorth Capital Management LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 13.7% in the third quarter. Rivernorth Capital Management LLC now owns 1,666,877 shares of the investment management company’s stock valued at $10,385,000 after acquiring an additional 201,105 shares during the last quarter. Van ECK Associates Corp boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 5.8% in the fourth quarter. Van ECK Associates Corp now owns 419,830 shares of the investment management company’s stock valued at $2,439,000 after acquiring an additional 23,135 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 6.3% during the fourth quarter. Park Avenue Securities LLC now owns 162,065 shares of the investment management company’s stock valued at $942,000 after buying an additional 9,666 shares during the period. Ackerman Capital Advisors LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 25.9% during the 4th quarter. Ackerman Capital Advisors LLC now owns 147,644 shares of the investment management company’s stock worth $858,000 after acquiring an additional 30,362 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at $823,000.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.6 %

Shares of NYSE DSM opened at $5.45 on Thursday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $6.38. The company has a 50 day simple moving average of $5.78 and a two-hundred day simple moving average of $5.90.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be given a $0.018 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Monday, April 14th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 5,267 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction on Tuesday, April 15th. The stock was acquired at an average price of $5.48 per share, for a total transaction of $28,863.16. Following the completion of the transaction, the insider now directly owns 5,146,241 shares in the company, valued at $28,201,400.68. This represents a 0.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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.