Janney Montgomery Scott LLC Buys New Position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Janney Montgomery Scott LLC bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSMGet Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 88,028 shares of the investment management company’s stock, valued at approximately $498,000.

Several other hedge funds also recently modified their holdings of DSM. Guggenheim Capital LLC lifted 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 acquiring an additional 182,476 shares during the period. LPL Financial LLC lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 17.2% during the second quarter. LPL Financial LLC now owns 359,667 shares of the investment management company’s stock worth $2,237,000 after acquiring an additional 52,653 shares during the period. Rivernorth Capital Management LLC lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 41.4% during the first quarter. Rivernorth Capital Management LLC now owns 329,367 shares of the investment management company’s stock worth $2,329,000 after acquiring an additional 96,414 shares during the period. Capital Investment Advisors LLC lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 7.1% during the third quarter. Capital Investment Advisors LLC now owns 213,648 shares of the investment management company’s stock worth $1,209,000 after acquiring an additional 14,143 shares during the period. Finally, Invesco Ltd. lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 1.2% during the first quarter. Invesco Ltd. now owns 180,775 shares of the investment management company’s stock worth $1,278,000 after acquiring an additional 2,159 shares during the period. Hedge funds and other institutional investors own 18.51% of the company’s stock.

BNY Mellon Strategic Municipal Bond Fund Trading Up 1.7 %

Shares of BNY Mellon Strategic Municipal Bond Fund stock opened at $6.08 on Monday. The business’s fifty day simple moving average is $5.79 and its 200 day simple moving average is $5.99. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.24 and a 12 month high of $7.65.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 17th will be issued a dividend of $0.022 per share. The ex-dividend date is Friday, January 13th. This represents a $0.26 dividend on an annualized basis and a yield of 4.34%.

About BNY Mellon Strategic Municipal Bond Fund

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BNY Mellon Strategic Municipal Bond Fund, Inc operates as closed-end management investment company. Its investment objective is to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. The company was founded in 1989 and is headquartered in New York, NY.

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

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