DWS Strategic Municipal Income Trust (NYSE:KSM) Announces Monthly Dividend of $0.03

DWS Strategic Municipal Income Trust (NYSE:KSM) announced a monthly dividend on Monday, September 11th, Wall Street Journal reports. Shareholders of record on Monday, September 18th will be paid a dividend of 0.026 per share by the investment management company on Friday, September 29th. This represents a $0.31 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, September 15th.

DWS Strategic Municipal Income Trust Stock Up 0.2 %

NYSE KSM traded up $0.02 on Monday, reaching $8.09. 43,964 shares of the company’s stock traded hands, compared to its average volume of 30,221. The stock has a 50-day simple moving average of $8.32 and a 200 day simple moving average of $8.35. DWS Strategic Municipal Income Trust has a 12 month low of $7.47 and a 12 month high of $8.88.

Insiders Place Their Bets

In other DWS Strategic Municipal Income Trust news, major shareholder Saba Capital Management, L.P. bought 24,662 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average cost of $8.12 per share, with a total value of $200,255.44. Following the completion of the purchase, the insider now directly owns 1,184,819 shares of the company’s stock, valued at $9,620,730.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 38,836 shares of company stock valued at $315,351 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On DWS Strategic Municipal Income Trust

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