Arete Wealth Advisors LLC Decreases Position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Arete Wealth Advisors LLC decreased its position in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 22.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 46,924 shares of the investment management company’s stock after selling 13,901 shares during the period. Arete Wealth Advisors LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $273,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth $76,000. Benjamin Edwards Inc. bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth about $149,000. Wolverine Asset Management LLC raised its position in BNY Mellon Strategic Municipal Bond Fund by 229.1% in the 4th quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company’s stock worth $207,000 after buying an additional 24,761 shares during the last quarter. Melfa Wealth Management Inc. lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 39.5% during the 4th quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company’s stock valued at $256,000 after acquiring an additional 12,500 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $343,000.

BNY Mellon Strategic Municipal Bond Fund Price Performance

DSM opened at $5.77 on Monday. The firm has a 50 day moving average price of $5.90 and a 200-day moving average price of $5.98. BNY Mellon Strategic Municipal Bond Fund, Inc. has a twelve month low of $5.54 and a twelve month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.018 per share. The ex-dividend date is Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a yield of 3.74%.

BNY Mellon Strategic Municipal Bond Fund Profile

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.