Envestnet Asset Management Inc. Purchases 10,429 Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Envestnet Asset Management Inc. grew its position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSMGet Rating) by 7.3% in the second quarter, HoldingsChannel.com reports. The fund owned 152,942 shares of the investment management company’s stock after buying an additional 10,429 shares during the period. Envestnet Asset Management Inc.’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Guggenheim Capital LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 33.1% during the first quarter. Guggenheim Capital LLC now owns 734,074 shares of the investment management company’s stock worth $5,189,000 after purchasing an additional 182,476 shares during the period. Advisor Group Holdings Inc. lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 119.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 371,657 shares of the investment management company’s stock valued at $2,627,000 after purchasing an additional 202,465 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 41.4% in the first quarter. Rivernorth Capital Management LLC now owns 329,367 shares of the investment management company’s stock valued at $2,329,000 after purchasing an additional 96,414 shares during the last quarter. Van ECK Associates Corp raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 5.8% in the first quarter. Van ECK Associates Corp now owns 264,180 shares of the investment management company’s stock valued at $1,868,000 after purchasing an additional 14,514 shares during the period. Finally, Capital Investment Advisors LLC raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 3.0% in the second quarter. Capital Investment Advisors LLC now owns 199,505 shares of the investment management company’s stock valued at $1,241,000 after purchasing an additional 5,900 shares during the period. 18.35% of the stock is owned by institutional investors.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.1 %

Shares of DSM stock opened at $5.77 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52 week low of $5.24 and a 52 week high of $8.42. The company has a 50-day simple moving average of $5.63 and a 200 day simple moving average of $6.15.

BNY Mellon Strategic Municipal Bond Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.022 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, November 14th.

BNY Mellon Strategic Municipal Bond Fund Profile

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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.

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Institutional Ownership by Quarter for BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM)

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