DWS Strategic Municipal Income Trust Announces $0.04 Monthly Dividend (NYSE:KSM)

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DWS Strategic Municipal Income Trust (NYSE:KSM – Get Rating) announced a monthly dividend on Friday, June 10, reports The Wall Street Journal. Shareholders of record on Tuesday 21st June will receive a dividend of 0.04 per share from the investment management company on Thursday 30th June. That equates to a dividend of $0.48 on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Friday June 17th.

DWS Strategic Municipal Income Trust has reduced its dividend by an average of 3.5% annually over the past three years.

Shares of KSM stock fell $0.17 during Friday’s trading hours to hit $9.43. The company had a trading volume of 10,168 shares compared to an average volume of 25,334. The company has a 50-day moving average price of $9.58 and a 200-day moving average price of $10.80. DWS Strategic Municipal Income Trust has a yearly low of $9.04 and a yearly high of $12.99.

Several hedge funds have recently changed their positions in KSM. UBS Group AG increased its stake in DWS Strategic Municipal Income Trust shares by 52.1% in the first quarter. UBS Group AG now owns 7,129 shares of the investment manager, valued at US$74,000, having purchased an additional 2,443 shares during the period. LPL Financial LLC acquired a new interest in DWS Strategic Municipal Income Trust stock valued at approximately $131,000 during the fourth quarter. Citadel Advisors LLC acquired a new interest in DWS Strategic Municipal Income Trust stock valued at approximately $262,000 during the third quarter. Morgan Stanley increased its stake in DWS Strategic Municipal Income Trust shares by 35.2% in the second quarter. Morgan Stanley now owns 22,962 shares of the investment management company, valued at $289,000, having purchased an additional 5,982 shares during the period. Finally, Invesco Ltd. increased its stake in DWS Strategic Municipal Income Trust shares by 49.1% in the second quarter. invesco ltd now owns 31,240 shares of the investment management company, valued at $393,000, having purchased an additional 10,293 shares during the period. Hedge funds and other institutional investors own 36.14% of the company’s shares.

Corporate Profile of DWS Strategic Municipal Income Trust (received rating)

Deutsche Strategic Municipal Income Trust is a closed-end fixed income mutual fund created and managed by Deutsche Investment Management Americas Inc. The Fund invests in the United States bond markets. It invests primarily in investment grade or unrated municipal securities of comparable quality and high yielding sub-investment grade municipal securities.

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Dividend History for DWS Strategic Municipal Income Trust (NYSE:KSM)

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