DWS Strategic Municipal Income Trust (NYSE:KSM) Sees Large Growth in Short Interest

DWS Strategic Municipal Income Trust (NYSE:KSM) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 13,700 shares, an increase of 90.3% from the September 15th total of 7,200 shares. Based on an average daily volume of 22,600 shares, the short-interest ratio is presently 0.6 days.

DWS Strategic Municipal Income Trust Price Performance

DWS Strategic Municipal Income Trust stock opened at $10.18 on Friday. The firm has a 50 day simple moving average of $10.12 and a 200-day simple moving average of $9.82. DWS Strategic Municipal Income Trust has a 1-year low of $7.25 and a 1-year high of $10.25.

DWS Strategic Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a $0.023 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 annualized dividend and a yield of 2.71%.

Institutional Investors Weigh In On DWS Strategic Municipal Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KSM. Whitebox Advisors LLC purchased a new position in DWS Strategic Municipal Income Trust during the first quarter worth about $311,000. Catalina Capital Group LLC raised its stake in shares of DWS Strategic Municipal Income Trust by 8.8% in the 2nd quarter. Catalina Capital Group LLC now owns 13,072 shares of the investment management company’s stock valued at $129,000 after acquiring an additional 1,059 shares during the period. Rothschild Investment LLC acquired a new position in shares of DWS Strategic Municipal Income Trust in the 2nd quarter worth approximately $69,000. Logan Stone Capital LLC boosted its position in shares of DWS Strategic Municipal Income Trust by 4.0% during the 2nd quarter. Logan Stone Capital LLC now owns 211,297 shares of the investment management company’s stock worth $2,083,000 after purchasing an additional 8,115 shares during the period. Finally, Almitas Capital LLC boosted its position in shares of DWS Strategic Municipal Income Trust by 111.2% during the 2nd quarter. Almitas Capital LLC now owns 276,617 shares of the investment management company’s stock worth $2,727,000 after purchasing an additional 145,631 shares during the period. Institutional investors and hedge funds own 53.77% of the company’s stock.

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.