Wells Fargo & Company MN lowered its stake in shares of Dreyfus Strateg (NYSE:DSM) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,205 shares of the investment management company’s stock after selling 15,949 shares during the quarter. Wells Fargo & Company MN’s holdings in Dreyfus Strateg were worth $913,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new position in Dreyfus Strateg during the second quarter worth $102,000. SG Americas Securities LLC bought a new position in Dreyfus Strateg during the second quarter worth $212,000. National Planning Corp bought a new position in Dreyfus Strateg during the second quarter worth $215,000. Bronfman E.L. Rothschild L.P. bought a new position in Dreyfus Strateg during the second quarter worth $514,000. Finally, ProVise Management Group LLC increased its position in Dreyfus Strateg by 7.2% during the second quarter. ProVise Management Group LLC now owns 116,273 shares of the investment management company’s stock worth $989,000 after acquiring an additional 7,836 shares during the period. 7.41% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Dreyfus Strateg (DSM) opened at $8.46 on Wednesday. Dreyfus Strateg has a fifty-two week low of $7.88 and a fifty-two week high of $8.85.
The firm also recently declared a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be issued a $0.0415 dividend. This represents a $0.50 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Monday, November 13th.
Dreyfus Strateg Profile
Dreyfus Strategic Municipal Bond Fund, Inc is a diversified closed-end management investment company. The Fund’s investment objective is to seek to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. Under normal market conditions, the Fund invests at least 80% of its net assets in municipal bonds considered investment grade or the unrated equivalent.
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