Riverbridge Partners LLC Sells 13,600 Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Riverbridge Partners LLC cut its stake in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,180 shares of the investment management company’s stock after selling 13,600 shares during the quarter. Riverbridge Partners LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Melfa Wealth Management Inc. lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 39.5% during the fourth quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company’s stock valued at $256,000 after purchasing an additional 12,500 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 6.3% during the 4th quarter. Park Avenue Securities LLC now owns 162,065 shares of the investment management company’s stock valued at $942,000 after purchasing an additional 9,666 shares during the period. Rivernorth Capital Management LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 13.7% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,666,877 shares of the investment management company’s stock valued at $10,385,000 after buying an additional 201,105 shares in the last quarter. MidWestOne Financial Group Inc. bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth $76,000. Finally, Whitebox Advisors LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 15.9% in the 3rd quarter. Whitebox Advisors LLC now owns 192,127 shares of the investment management company’s stock worth $1,197,000 after buying an additional 26,319 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Price Performance

NYSE:DSM opened at $5.83 on Friday. The business’s 50-day simple moving average is $5.92 and its two-hundred day simple moving average is $6.03. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52 week low of $5.54 and a 52 week high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $0.018 per share. This represents a $0.22 annualized dividend and a yield of 3.71%. The ex-dividend date is Wednesday, January 15th.

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.