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Dreyfus Strategic Municipal Bond Fund (DSM) Declares $0.02 Dividend

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Dreyfus Strategic Municipal Bond Fund said on April 27, 2023 that its board of directors declared a regular monthly dividend of $0.02 per share ($0.26 annualized). Previously, the company paid $0.02 per share.

Shares must be purchased before the ex-div date of May 11, 2023 to be eligible for the dividend. Shareholders of record as of May 12, 2023 will receive payment on May 31, 2023.

At the current share price of $5.86/share, the dividend yield of the stock is 4.51%.

Looking back five years and taking a sample each week, the average dividend yield was 5.08%, the low 4.25% and the high 6.68%. The standard deviation of returns is 0.58 (n=196).

The current dividend yield is 0.98 standard deviations below the historical average.

The company’s 3-year dividend growth rate is -0.27%.

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What is fund sentiment?

There are 98 funds or institutions reporting positions in Dreyfus Strategic Municipal Bond Fund. This is an increase of 4 owner(s) or 4.26% over the last quarter. Average portfolio weight of all funds dedicated to DSM is 0.08%, an increase of 80.80%. The total number of shares held by institutions has increased over the past three months by 17.40% to 11,096,000 shares.

What are the other shareholders doing?

Guggenheim Capital owns 830,000 shares. In its previous filing, the company said it held 1,015,000 shares, representing a decrease of 22.22%. The company decreases its portfolio allocation in DSM by 36.12% in the last quarter.

Hennion & Walsh Asset Management holds 703,000 shares. In its previous filing, the company said it held 1,155,000 shares, representing a decrease of 64.30%. The company increase its portfolio allocation in DSM of 62,796.29% in the last quarter.

Advisor Group Holdings owns 667,000 shares. In its previous filing, the company said it held 639,000 shares, representing a raise of 4.21%. The company decreases its portfolio allocation in DSM of 85.82% in the last quarter.

Robinson Capital Management owns 604,000 shares. In its previous filing, the company said it held 80,000 shares, representing a raise of 86.75%. The company increase its portfolio allocation in DSM by 394.45% in the last quarter.

ROBAX – Robinson Tax Advantaged Income Fund Shares holds 604,000 shares. In its previous filing, the company said it held 80,000 shares, representing a raise of 86.75%. The company increase its portfolio allocation in DSM of 309.05% in the last quarter.

General information about the BNY Mellon Strategic Municipal Bond Fund
(This description is provided by the company.)

The fund’s investment objective is to maximize current income exempt from federal income tax to the extent deemed consistent with the preservation of capital.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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