DWS Strategic Municipal Income Trust (NYSE:KSM) Major Shareholder Buys $12,960.48 in Stock

Posted by Scott Davis on Nov 19th, 2023

DWS Strategic Municipal Income Trust (NYSE:KSM – Get Free Report) major shareholder Saba Capital Management, L.P. bought 1,612 shares of DWS Strategic Municipal Income Trust stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $8.04 per share, with a total value of $12,960.48. Following the completion of the acquisition, the insider now owns 1,222,429 shares of the company’s stock, valued at $9,828,329.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Monday, November 13th, Saba Capital Management, L.P. bought 12,794 shares of DWS Strategic Municipal Income Trust stock. The stock was acquired at an average cost of $7.88 per share, with a total value of $100,816.72.
On Wednesday, November 8th, Saba Capital Management, L.P. bought 600 shares of DWS Strategic Municipal Income Trust stock. The stock was acquired at an average cost of $7.77 per share, with a total value of $4,662.00.
On Monday, November 6th, Saba Capital Management, L.P. bought 5,514 shares of DWS Strategic Municipal Income Trust stock. The stock was acquired at an average cost of $7.58 per share, with a total value of $41,796.12.
On Tuesday, October 3rd, Saba Capital Management, L.P. bought 2,592 shares of DWS Strategic Municipal Income Trust stock. The stock was acquired at an average cost of $7.52 per share, with a total value of $19,491.84.
On Wednesday, August 30th, Saba Capital Management, L.P. bought 10,269 shares of DWS Strategic Municipal Income Trust stock. The stock was acquired at an average cost of $8.13 per share, with a total value of $83,486.97.
On Monday, August 28th, Saba Capital Management, L.P. bought 24,662 shares of DWS Strategic Municipal Income Trust stock. The stock was acquired at an average cost of $8.12 per share, with a total value of $200,255.44.
On Friday, August 25th, Saba Capital Management, L.P. acquired 1,077 shares of DWS Strategic Municipal Income Trust stock. The shares were purchased at an average cost of $8.06 per share, with a total value of $8,680.62.
On Wednesday, August 23rd, Saba Capital Management, L.P. acquired 2,610 shares of DWS Strategic Municipal Income Trust stock. The shares were purchased at an average cost of $8.10 per share, with a total value of $21,141.00.
On Monday, August 21st, Saba Capital Management, L.P. acquired 8 shares of DWS Strategic Municipal Income Trust stock. The shares were purchased at an average cost of $8.07 per share, with a total value of $64.56.

DWS Strategic Municipal Income Trust Price Performance

Shares of NYSE KSM opened at $8.09 on Friday. The stock has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $8.09. DWS Strategic Municipal Income Trust has a 1-year low of $7.25 and a 1-year high of $8.88.

DWS Strategic Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.026 per share. This represents a $0.31 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, November 17th.

Hedge Funds Weigh In On DWS Strategic Municipal Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Saba Capital Management L.P. grew its holdings in DWS Strategic Municipal Income Trust by 57.8% during the third quarter. Saba Capital Management L.P. now owns 1,195,188 shares of the investment management company’s stock valued at $9,000,000 after purchasing an additional 437,593 shares during the period. Sit Investment Associates Inc. boosted its holdings in shares of DWS Strategic Municipal Income Trust by 1.0% in the second quarter. Sit Investment Associates Inc. now owns 396,927 shares of the investment management company’s stock worth $3,368,000 after acquiring an additional 4,032 shares during the period. Robinson Capital Management LLC boosted its holdings in shares of DWS Strategic Municipal Income Trust by 2.3% in the first quarter. Robinson Capital Management LLC now owns 288,499 shares of the investment management company’s stock worth $2,429,000 after acquiring an additional 6,600 shares during the period. Rivernorth Capital Management LLC boosted its holdings in shares of DWS Strategic Municipal Income Trust by 82.2% in the first quarter. Rivernorth Capital Management LLC now owns 165,610 shares of the investment management company’s stock worth $1,712,000 after acquiring an additional 74,726 shares during the period. Finally, Bulldog Investors LLP bought a new position in shares of DWS Strategic Municipal Income Trust in the second quarter worth $1,276,000.

DWS Strategic Municipal Income Trust Company Profile

(Get Free Report)

Deutsche Strategic Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas Inc The fund invests in the fixed income markets of the United States. It primarily invests investment grade or unrated municipal securities of comparable quality, as well as in high-yield municipal securities that are below investment grade.