Baird Financial Group Inc. Sells 1,656 Shares of DWS Strategic Municipal Income Trust (NYSE:KSM)

Baird Financial Group Inc. lessened its holdings in DWS Strategic Municipal Income Trust (NYSE:KSMGet Rating) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,457 shares of the investment management company’s stock after selling 1,656 shares during the period. Baird Financial Group Inc. owned about 0.45% of DWS Strategic Municipal Income Trust worth $460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rivernorth Capital Management LLC raised its position in DWS Strategic Municipal Income Trust by 82.2% in the first quarter. Rivernorth Capital Management LLC now owns 165,610 shares of the investment management company’s stock worth $1,712,000 after acquiring an additional 74,726 shares during the period. Robinson Capital Management LLC raised its holdings in DWS Strategic Municipal Income Trust by 445.5% in the 1st quarter. Robinson Capital Management LLC now owns 77,997 shares of the investment management company’s stock worth $806,000 after purchasing an additional 63,698 shares during the period. 1607 Capital Partners LLC lifted its position in DWS Strategic Municipal Income Trust by 15.3% during the first quarter. 1607 Capital Partners LLC now owns 465,501 shares of the investment management company’s stock valued at $4,813,000 after purchasing an additional 61,615 shares in the last quarter. Ackerman Capital Advisors LLC grew its holdings in DWS Strategic Municipal Income Trust by 119.1% during the second quarter. Ackerman Capital Advisors LLC now owns 80,566 shares of the investment management company’s stock valued at $735,000 after purchasing an additional 43,792 shares during the period. Finally, Invesco Ltd. increased its position in DWS Strategic Municipal Income Trust by 23.6% in the first quarter. Invesco Ltd. now owns 141,948 shares of the investment management company’s stock worth $1,468,000 after buying an additional 27,076 shares in the last quarter. Hedge funds and other institutional investors own 21.74% of the company’s stock.

DWS Strategic Municipal Income Trust Stock Up 0.9 %

KSM stock opened at $8.09 on Tuesday. The business’s 50-day moving average price is $7.93 and its 200-day moving average price is $8.82. DWS Strategic Municipal Income Trust has a twelve month low of $7.47 and a twelve month high of $12.81.

DWS Strategic Municipal Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, November 18th.

DWS Strategic Municipal Income Trust Profile

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Deutsche Strategic Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas Inc The fund invests in the fixed income markets of the United States. It primarily invests investment grade or unrated municipal securities of comparable quality, as well as in high-yield municipal securities that are below investment grade.

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Institutional Ownership by Quarter for DWS Strategic Municipal Income Trust (NYSE:KSM)

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