BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.09 and traded as high as $6.22. BNY Mellon Strategic Municipal Bond Fund shares last traded at $6.22, with a volume of 40,340 shares traded.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

The firm’s 50 day moving average is $6.09 and its 200-day moving average is $5.92.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be issued a $0.026 dividend. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.02. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, February 12th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 27,875 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction that occurred on Friday, November 28th. The shares were purchased at an average price of $5.90 per share, for a total transaction of $164,462.50. Following the completion of the transaction, the insider owned 5,180,466 shares in the company, valued at $30,564,749.40. This represents a 0.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverbridge Partners LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 2.9% during the 3rd quarter. Riverbridge Partners LLC now owns 164,586 shares of the investment management company’s stock valued at $974,000 after acquiring an additional 4,612 shares during the last quarter. HighTower Advisors LLC raised its stake in BNY Mellon Strategic Municipal Bond Fund by 15.9% during the fourth quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock worth $262,000 after purchasing an additional 5,833 shares during the period. Integrated Capital Management Inc. boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 20.4% in the 2nd quarter. Integrated Capital Management Inc. now owns 40,069 shares of the investment management company’s stock valued at $224,000 after purchasing an additional 6,776 shares during the last quarter. Aviance Capital Partners LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 24.3% in the 2nd quarter. Aviance Capital Partners LLC now owns 37,491 shares of the investment management company’s stock valued at $210,000 after purchasing an additional 7,319 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at approximately $48,000.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.