Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)
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DWS Strategic Municipal Income Trust
( KSM )
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
23342Q101
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(CUSIP Number)
Paul E. Rasmussen
3300 IDS Center
80 South Eighth Street
Minneapolis, MN 55402-4130
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(Name, Address, and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 28, 2024
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. [X]
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP No. 23342Q101
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1 NAME OF REPORTING PERSON
Sit Investment Associates, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in Minnesota
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7 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 921,930 Shares
REPORTING -----------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
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10 SHARED DISPOSITIVE POWER
921,930 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
921,930 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.34%
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14 TYPE OF REPORTING PERSON (See Instructions)
IA
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CUSIP No. 23342Q101
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1 NAME OF REPORTING PERSON
Sit Fixed Income Advisors II, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in Minnesota
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7 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 921,930 Shares
REPORTING -----------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
921,930 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
921,930 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.34%
14 TYPE OF REPORTING PERSON (See Instructions)
IA
EXPLANATORY NOTE
This Amendment No. 3 ("Amendment") amends and supplements the statement on
Schedule 13D filed on November 15, 2023, as most recently amended by
Amendment No. 2 filed on March 4, 2024 (collectively, the
"Original Schedule 13D" and, as amended by this Amendment,
the "Schedule 13D"), relating to the shares of Common Stock ("Shares)"
of DWS Strategic Municipal Income Trust (the "Issuer"). Except as
specifically provided herein, each Item of the Original Schedule 13D remains
unchanged. Capitalized terms used but not otherwise defined herein have
the meanings set forth in the Original Schedule 13D.
ITEM 4 Purpose of Transaction
Item 4 of the Original Schedule 13D is hereby amended to add the following:
On March 28, 2024, the Sit Entities entered into the Standstill Agreement
with and among the Issuer, DWS Municipal Income Trust, and DWS Investment
Management Americas, Inc.
ITEM 5 Interest in Securities of the Issuer
Item 5 of the Original Schedule 13D is hereby amended to read as follows:
a) and b)
The aggregate percentage of Shares reported owned by Sit Entities herein
is based upon 11,047,862 Shares outstanding as of March 28, 2024, which is
the total number of Shares outstanding as reported on the Issuer's
website. As of the date hereof, the Sit Entities may be deemed to be the
beneficial owner of 921,930 Shares held in client accounts which represent
8.34% of the Issuer's outstanding Shares. Each of the Sit Entities may be
deemed to have shared power to vote and dispose of such Shares. However,
none of SIA's or SFI's directors or executive officers own Shares
directly.
c) Transactions in Shares by the Sit Entities in the last 60 days are set
forth in Exhibit A.
d) The clients of SIA and SFI have the right to participate in the receipt of
dividends from, or proceeds from the sales of, the Shares held for their
respective accounts.
e) Not applicable.
ITEM 7 Materials to be Filed as Exhibits
Item 7 of the Original Schedule 13D is hereby amended to add the following
exhibit:
Exhibit B: The Standstill Agreement with and among the Sit Entities, the
Issuer, DWS Municipal Income Trust, and DWS Investment Management Americas,
Inc.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete, and correct.
March 28, 2024
By: Sit Investment Associates, Inc.
/s/ Roger J. Sit
-----------------------------------
Name/Title: Roger J. Sit, Chairman & CEO
By: Sit Fixed Income Advisors II, LLC
/s/ Roger J. Sit
-----------------------------------
Name/Title: Roger J. Sit, Chairman & CEO
EXHIBIT A
Schedule of Transactions in Shares by Sit Entities in the last 60 days:
------------------ ------------------ ------------------ ------------------
Shares of Common
Date of Transaction Stock Purchased Price
Transaction Type /(Sold) Per Share ($)
------------------ ------------------ ------------------ ------------------
1/29/2024 BUY 1,191.00 8.67
1/30/2024 BUY 8,876.00 8.76
2/1/2024 BUY 2,132.00 8.95
2/5/2024 BUY 3,200.00 8.79
2/5/2024 BUY 3,300.00 8.79
2/6/2024 BUY 7,600.00 8.87
2/6/2024 BUY 5,921.00 8.87
2/7/2024 BUY 1,000.00 8.86
2/7/2024 BUY 9,000.00 8.86
2/16/2024 BUY 11,878.00 8.82
3/7/2024 BUY 300.00 8.86
3/7/2024 BUY 2,200.00 8.86
3/7/2024 BUY 4,647.00 8.86
3/7/2024 BUY 1,600.00 8.86
3/8/2024 BUY 100.00 8.87
3/8/2024 BUY 700.00 8.87
3/8/2024 BUY 900.00 8.87
3/8/2024 BUY 700.00 8.87
3/8/2024 BUY 500.00 8.87
3/12/2024 BUY 2,300.00 8.94
3/12/2024 BUY 2,700.00 8.94
3/12/2024 BUY 2,697.00 8.94
3/12/2024 BUY 1,800.00 8.94
3/13/2024 BUY 200.00 8.94
3/13/2024 BUY 1,700.00 8.94
3/13/2024 BUY 1,800.00 8.94
3/13/2024 BUY 1,700.00 8.94
3/13/2024 BUY 1,300.00 8.94
3/14/2024 BUY 500.00 8.94
3/14/2024 BUY 5,100.00 8.94
3/14/2024 BUY 5,900.00 8.94
3/14/2024 BUY 5,200.00 8.94
3/14/2024 BUY 3,900.00 8.94
3/14/2024 BUY 11,000.00 8.94