DWS Strategic Municipal Income Trust (NYSE:KSM) Major Shareholder Saba Capital Management, L.P. Buys 24,662 Shares

DWS Strategic Municipal Income Trust (NYSE:KSM) major shareholder Saba Capital Management, L.P. purchased 24,662 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average price of $8.12 per share, for a total transaction of $200,255.44. Following the purchase, the insider now directly owns 1,184,819 shares in the company, valued at $9,620,730.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, August 25th, Saba Capital Management, L.P. purchased 1,077 shares of DWS Strategic Municipal Income Trust stock. The shares were acquired at an average price of $8.06 per share, for a total transaction of $8,680.62.
• On Wednesday, August 23rd, Saba Capital Management, L.P. purchased 2,610 shares of DWS Strategic Municipal Income Trust stock. The shares were acquired at an average price of $8.10 per share, for a total transaction of $21,141.00.
• On Monday, August 21st, Saba Capital Management, L.P. purchased 8 shares of DWS Strategic Municipal Income Trust stock. The shares were acquired at an average price of $8.07 per share, for a total transaction of $64.56.
• On Thursday, August 17th, Saba Capital Management, L.P. bought 210 shares of DWS Strategic Municipal Income Trust stock. The shares were purchased at an average price of $8.20 per share, for a total transaction of $1,722.00.

DWS Strategic Municipal Income Trust Stock Performance

KSM opened at $8.12 on Thursday. DWS Strategic Municipal Income Trust has a fifty-two week low of $7.47 and a fifty-two week high of $9.19. The firm’s fifty day moving average is $8.36 and its 200 day moving average is $8.37.

DWS Strategic Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be paid a dividend of $0.0295 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Thursday, August 17th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. UBS Group AG increased its holdings in DWS Strategic Municipal Income Trust by 52.1% in the 1st quarter. UBS Group AG now owns 7,129 shares of the investment management company’s stock valued at $74,000 after acquiring an additional 2,443 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of DWS Strategic Municipal Income Trust in the 4th quarter worth about $92,000. Captrust Financial Advisors bought a new stake in shares of DWS Strategic Municipal Income Trust in the 2nd quarter worth about $120,000. Susquehanna International Group LLP bought a new stake in shares of DWS Strategic Municipal Income Trust in the 1st quarter worth about $241,000. Finally, LPL Financial LLC bought a new stake in shares of DWS Strategic Municipal Income Trust in the 2nd quarter worth about $300,000.

DWS Strategic Municipal Income Trust Company Profile

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.