DWS Strategic Municipal Income Trust (NYSE:KSM) Short Interest Update

DWS Strategic Municipal Income Trust (NYSE:KSMGet Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 70,100 shares, an increase of 114.4% from the March 15th total of 32,700 shares. Based on an average daily volume of 32,800 shares, the short-interest ratio is currently 2.1 days.

DWS Strategic Municipal Income Trust Stock Down 0.1 %

KSM stock opened at $9.49 on Friday. The business has a 50 day moving average of $9.00 and a 200 day moving average of $8.45. DWS Strategic Municipal Income Trust has a twelve month low of $7.25 and a twelve month high of $9.74.

DWS Strategic Municipal Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be issued a dividend of $0.0273 per share. This represents a $0.33 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, April 18th.

Insider Buying and Selling

In other DWS Strategic Municipal Income Trust news, major shareholder Saba Capital Management, L.P. bought 3,345 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $8.80 per share, for a total transaction of $29,436.00. Following the acquisition, the insider now owns 1,588,000 shares in the company, valued at approximately $13,974,400. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have bought a total of 20,309 shares of company stock valued at $178,968 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. grew its stake in DWS Strategic Municipal Income Trust by 20.2% in the fourth quarter. Baird Financial Group Inc. now owns 85,290 shares of the investment management company’s stock worth $738,000 after purchasing an additional 14,325 shares in the last quarter. Bulldog Investors LLP lifted its holdings in shares of DWS Strategic Municipal Income Trust by 46.5% in the 4th quarter. Bulldog Investors LLP now owns 430,664 shares of the investment management company’s stock worth $3,725,000 after buying an additional 136,685 shares during the period. Wolverine Asset Management LLC grew its position in shares of DWS Strategic Municipal Income Trust by 113.1% during the 4th quarter. Wolverine Asset Management LLC now owns 20,109 shares of the investment management company’s stock worth $174,000 after buying an additional 10,671 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in shares of DWS Strategic Municipal Income Trust during the fourth quarter valued at $42,000. Finally, Camelot Portfolios LLC bought a new stake in shares of DWS Strategic Municipal Income Trust in the fourth quarter valued at about $99,000. Hedge funds and other institutional investors own 53.77% of the company’s stock.

About DWS Strategic Municipal Income Trust

(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.

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