BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Short Interest Update

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 32,268 shares, an increase of 34.0% from the February 26th total of 24,076 shares. Based on an average daily volume of 131,031 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds have recently modified their holdings of LEO. Saba Capital Management L.P. raised its holdings in BNY Mellon Strategic Municipals by 6.6% in the 4th quarter. Saba Capital Management L.P. now owns 6,076,820 shares of the investment management company’s stock valued at $38,649,000 after buying an additional 378,001 shares during the period. Pathstone Holdings LLC boosted its stake in BNY Mellon Strategic Municipals by 23.2% during the third quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company’s stock worth $23,998,000 after buying an additional 723,676 shares during the period. Rivernorth Capital Management LLC increased its position in shares of BNY Mellon Strategic Municipals by 5.8% during the fourth quarter. Rivernorth Capital Management LLC now owns 2,195,115 shares of the investment management company’s stock valued at $13,961,000 after acquiring an additional 119,962 shares during the last quarter. Gridiron Partners LLC increased its position in shares of BNY Mellon Strategic Municipals by 394.1% during the third quarter. Gridiron Partners LLC now owns 1,994,982 shares of the investment management company’s stock valued at $125,000 after acquiring an additional 1,591,208 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of BNY Mellon Strategic Municipals by 60.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,545,694 shares of the investment management company’s stock valued at $9,831,000 after acquiring an additional 581,458 shares during the period.

BNY Mellon Strategic Municipals Stock Performance

NYSE LEO traded up $0.02 on Monday, reaching $6.09. 347,978 shares of the company were exchanged, compared to its average volume of 144,788. The business’s fifty day moving average price is $6.39 and its 200 day moving average price is $6.32. BNY Mellon Strategic Municipals has a fifty-two week low of $5.55 and a fifty-two week high of $6.55.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be given a $0.026 dividend. The ex-dividend date is Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 5.1%.

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.