Park Avenue Securities LLC Acquires 15,336 Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Park Avenue Securities LLC raised its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 9.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,448 shares of the investment management company’s stock after acquiring an additional 15,336 shares during the quarter. Park Avenue Securities LLC owned about 0.35% of BNY Mellon Strategic Municipal Bond Fund worth $977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DSM. Almitas Capital LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 36.1% during the 1st quarter. Almitas Capital LLC now owns 851,087 shares of the investment management company’s stock worth $4,911,000 after buying an additional 225,626 shares during the period. LPL Financial LLC lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 7.3% in the first quarter. LPL Financial LLC now owns 712,095 shares of the investment management company’s stock valued at $4,109,000 after buying an additional 48,150 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 40.8% in the first quarter. Advisors Asset Management Inc. now owns 353,086 shares of the investment management company’s stock worth $2,037,000 after purchasing an additional 102,237 shares in the last quarter. Ackerman Capital Advisors LLC increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 16.5% during the first quarter. Ackerman Capital Advisors LLC now owns 171,986 shares of the investment management company’s stock worth $992,000 after buying an additional 24,342 shares during the last quarter. Finally, Riverbridge Partners LLC increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 18.5% during the first quarter. Riverbridge Partners LLC now owns 153,113 shares of the investment management company’s stock worth $883,000 after buying an additional 23,933 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.8%

Shares of DSM opened at $5.90 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52 week low of $5.28 and a 52 week high of $6.32. The firm’s 50-day simple moving average is $5.69 and its 200 day simple moving average is $5.66.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $0.023 dividend. The ex-dividend date is Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 4.7%.

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.