DWS Strategic Municipal Income Trust (NYSE:KSM) Declares $0.03 Monthly Dividend

DWS Strategic Municipal Income Trust (NYSE:KSM) announced a monthly dividend on Monday, April 8th, Wall Street Journal reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.0273 per share by the investment management company on Tuesday, April 30th. This represents a $0.33 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Thursday, April 18th.

DWS Strategic Municipal Income Trust has decreased its dividend by an average of 12.2% annually over the last three years and has raised its dividend every year for the last 1 years.

DWS Strategic Municipal Income Trust Trading Down 0.3 %

Shares of NYSE KSM opened at $9.47 on Wednesday. The business’s 50 day moving average price is $9.03 and its 200-day moving average price is $8.49. DWS Strategic Municipal Income Trust has a fifty-two week low of $7.25 and a fifty-two week high of $9.74.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 6,711 shares of DWS Strategic Municipal Income Trust stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $8.91 per share, for a total transaction of $59,795.01. Following the acquisition, the insider now directly owns 1,598,045 shares of the company’s stock, valued at approximately $14,238,580.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 10,956 shares of company stock worth $97,223 in the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Rivernorth Capital Management LLC increased its holdings in DWS Strategic Municipal Income Trust by 82.2% during the 1st quarter. Rivernorth Capital Management LLC now owns 165,610 shares of the investment management company’s stock worth $1,712,000 after purchasing an additional 74,726 shares during the period. Invesco Ltd. increased its holdings in shares of DWS Strategic Municipal Income Trust by 23.6% in the 1st quarter. Invesco Ltd. now owns 141,948 shares of the investment management company’s stock valued at $1,468,000 after acquiring an additional 27,076 shares during the period. Logan Stone Capital LLC increased its holdings in shares of DWS Strategic Municipal Income Trust by 165.1% in the 4th quarter. Logan Stone Capital LLC now owns 128,840 shares of the investment management company’s stock valued at $1,053,000 after acquiring an additional 80,244 shares during the period. Baird Financial Group Inc. increased its holdings in shares of DWS Strategic Municipal Income Trust by 20.2% in the 4th quarter. Baird Financial Group Inc. now owns 85,290 shares of the investment management company’s stock valued at $738,000 after acquiring an additional 14,325 shares during the period. Finally, Robinson Capital Management LLC increased its holdings in shares of DWS Strategic Municipal Income Trust by 445.5% in the 1st quarter. Robinson Capital Management LLC now owns 77,997 shares of the investment management company’s stock valued at $806,000 after acquiring an additional 63,698 shares during the period. 53.77% of the stock is currently owned by hedge funds and other institutional investors.

About DWS Strategic Municipal Income Trust

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.