BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Short Interest Down 46.4% in January

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 48,380 shares, a decline of 46.4% from the December 31st total of 90,303 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 182,208 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 182,208 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Trading of BNY Mellon Strategic Municipals

A number of hedge funds have recently modified their holdings of LEO. Pathstone Holdings LLC boosted its stake in shares of BNY Mellon Strategic Municipals by 23.2% in the 3rd quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company’s stock valued at $23,998,000 after purchasing an additional 723,676 shares in the last quarter. Gridiron Partners LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 394.1% in the 3rd quarter. Gridiron Partners LLC now owns 1,994,982 shares of the investment management company’s stock worth $125,000 after acquiring an additional 1,591,208 shares during the last quarter. Bulldog Investors LLP raised its holdings in shares of BNY Mellon Strategic Municipals by 18.2% in the third quarter. Bulldog Investors LLP now owns 725,132 shares of the investment management company’s stock valued at $4,532,000 after purchasing an additional 111,628 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of BNY Mellon Strategic Municipals by 36.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 694,270 shares of the investment management company’s stock valued at $4,339,000 after purchasing an additional 186,196 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in BNY Mellon Strategic Municipals by 47.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 487,296 shares of the investment management company’s stock worth $3,099,000 after buying an additional 156,969 shares during the last quarter.

BNY Mellon Strategic Municipals Stock Down 0.2%

BNY Mellon Strategic Municipals stock traded down $0.02 during trading on Friday, reaching $6.49. 143,697 shares of the company’s stock were exchanged, compared to its average volume of 169,674. The company’s 50-day moving average is $6.33 and its two-hundred day moving average is $6.17. BNY Mellon Strategic Municipals has a 52-week low of $5.55 and a 52-week high of $6.52.

BNY Mellon Strategic Municipals Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be issued a $0.026 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Thursday, February 12th. This is an increase from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals (NYSE: LEO) is a closed-end management investment company that seeks to deliver a high level of current income exempt from U.S. federal income tax. The fund primarily allocates its assets to investment-grade municipal securities, including bonds and other debt instruments issued by U.S. states, territories, municipalities and their authorities.

Beyond traditional investment-grade munis, the fund may also invest in below-investment-grade securities, variable‐rate demand obligations, municipal derivatives and other income-producing instruments.