BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Sees Large Decline in Short Interest

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 18,400 shares, a decrease of 68.3% from the January 15th total of 58,000 shares. Based on an average daily volume of 194,800 shares, the short-interest ratio is currently 0.1 days.

BNY Mellon Strategic Municipals Price Performance

Shares of BNY Mellon Strategic Municipals stock traded down $0.07 during trading on Wednesday, reaching $6.14. 318,454 shares of the company’s stock were exchanged, compared to its average volume of 181,906. The firm’s 50-day moving average price is $6.16 and its 200 day moving average price is $6.30. BNY Mellon Strategic Municipals has a 1-year low of $5.79 and a 1-year high of $6.64.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.019 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.71%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its position in BNY Mellon Strategic Municipals by 9.3% in the third quarter. HighTower Advisors LLC now owns 61,693 shares of the investment management company’s stock valued at $398,000 after buying an additional 5,240 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 4.9% in the 4th quarter. Park Avenue Securities LLC now owns 168,143 shares of the investment management company’s stock valued at $1,016,000 after acquiring an additional 7,899 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of BNY Mellon Strategic Municipals in the 3rd quarter valued at $85,000. Rivernorth Capital Management LLC boosted its holdings in shares of BNY Mellon Strategic Municipals by 18.8% during the 3rd quarter. Rivernorth Capital Management LLC now owns 2,278,868 shares of the investment management company’s stock valued at $14,835,000 after acquiring an additional 360,045 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its position in BNY Mellon Strategic Municipals by 14.5% during the 3rd quarter. Capital Investment Advisors LLC now owns 468,729 shares of the investment management company’s stock worth $3,051,000 after acquiring an additional 59,316 shares during the last quarter.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds, the income from which is exempt from federal income tax.