Cambridge Investment Research Advisors Inc. Trims Holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Cambridge Investment Research Advisors Inc. cut its holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 10.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,370 shares of the investment management company’s stock after selling 3,233 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elequin Capital LP bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth about $36,000. Landscape Capital Management L.L.C. bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $84,000. CJM Wealth Advisers Ltd. bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 1st quarter valued at about $86,000. Janney Montgomery Scott LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 1st quarter valued at about $111,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $177,000.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 6,350 shares of the business’s stock in a transaction on Thursday, June 26th. The stock was acquired at an average cost of $5.55 per share, with a total value of $35,242.50. Following the acquisition, the insider directly owned 5,152,591 shares in the company, valued at $28,596,880.05. This represents a 0.12% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

DSM opened at $5.59 on Tuesday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52-week low of $5.28 and a 52-week high of $6.38. The company’s 50-day simple moving average is $5.63 and its two-hundred day simple moving average is $5.74.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 14th will be issued a dividend of $0.023 per share. This is a positive change from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.02. This represents a $0.28 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Monday, July 14th.

BNY Mellon Strategic Municipal Bond Fund Company 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.