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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 47,833 shares, a drop of 45.6% from the July 30th total of 87,912 shares. Based on an average daily trading volume, of 340,829 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are short sold.

BNY Mellon Strategic Municipals Stock Performance

LEO traded down $0.03 on Tuesday, reaching $6.16. The company’s stock had a trading volume of 107,957 shares, compared to its average volume of 207,393. BNY Mellon Strategic Municipals has a fifty-two week low of $5.87 and a fifty-two week high of $6.55. The stock has a 50 day moving average of $6.29 and a two-hundred day moving average of $6.34.

BNY Mellon Strategic Municipals (NYSE:LEO) last announced its quarterly earnings data on Friday, May 29th. The investment management company reported $0.08 earnings per share for the quarter. The business had revenue of $7.57 million during the quarter.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a $0.03 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, September 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

A number of institutional investors and hedge funds have recently modified their holdings of LEO. Saba Capital Management L.P. raised its holdings in shares of BNY Mellon Strategic Municipals by 6.6% during the fourth quarter. Saba Capital Management L.P. now owns 6,076,820 shares of the investment management company’s stock worth $38,649,000 after acquiring an additional 378,001 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of BNY Mellon Strategic Municipals by 23.2% in the third quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company’s stock valued at $23,998,000 after acquiring an additional 723,676 shares during the last quarter. Rivernorth Capital Management LLC increased its stake in shares of BNY Mellon Strategic Municipals by 5.8% in the 4th quarter. Rivernorth Capital Management LLC now owns 2,195,115 shares of the investment management company’s stock valued at $13,961,000 after buying an additional 119,962 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of BNY Mellon Strategic Municipals by 110.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,683,135 shares of the investment management company’s stock valued at $10,873,000 after acquiring an additional 884,861 shares during the last quarter. Finally, Bulldog Investors LLP lifted its holdings in shares of BNY Mellon Strategic Municipals by 6.5% during the 1st quarter. Bulldog Investors LLP now owns 1,576,371 shares of the investment management company’s stock valued at $9,915,000 after purchasing an additional 95,859 shares in the last quarter.

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.