Park Avenue Securities LLC Grows Position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Park Avenue Securities LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,065 shares of the investment management company’s stock after buying an additional 9,666 shares during the period. Park Avenue Securities LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DSM. Aviance Capital Partners LLC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 6.6% in the 3rd quarter. Aviance Capital Partners LLC now owns 27,091 shares of the investment management company’s stock valued at $169,000 after acquiring an additional 1,669 shares during the period. Stifel Financial Corp lifted its position in BNY Mellon Strategic Municipal Bond Fund by 4.4% during the 3rd quarter. Stifel Financial Corp now owns 61,442 shares of the investment management company’s stock worth $383,000 after acquiring an additional 2,603 shares during the period. Capital Investment Advisors LLC lifted its position in BNY Mellon Strategic Municipal Bond Fund by 1.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 313,890 shares of the investment management company’s stock worth $1,956,000 after acquiring an additional 3,000 shares during the period. Avior Wealth Management LLC lifted its position in BNY Mellon Strategic Municipal Bond Fund by 24.9% during the 3rd quarter. Avior Wealth Management LLC now owns 35,258 shares of the investment management company’s stock worth $220,000 after acquiring an additional 7,027 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in BNY Mellon Strategic Municipal Bond Fund by 9.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 95,089 shares of the investment management company’s stock worth $592,000 after acquiring an additional 8,554 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM opened at $5.86 on Tuesday. The stock has a 50-day moving average of $5.93 and a two-hundred day moving average of $6.04. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.54 and a one year high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.22 dividend on an annualized basis and a yield of 3.69%.

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.