BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Stock Short Interest Report for October

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 195,039 shares, an increase of 640.0% from the October 15th total of 26,356 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 295,182 shares, the short-interest ratio is currently 0.7 days.

Insider Transactions at BNY Mellon Strategic Municipals

In other news, major shareholder Saba Capital Management, L.P. acquired 322,858 shares of BNY Mellon Strategic Municipals stock in a transaction on Friday, October 16th. The stock was purchased at an average price of $5.65 per share, with a total value of $1,824,147.70. Following the completion of the purchase, the insider owned 6,413,388 shares of the company’s stock, valued at approximately $36,235,642.20. The trade was a 5.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 469,425 shares of company stock valued at $2,660,103 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of BNY Mellon Strategic Municipals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. acquired a new position in shares of BNY Mellon Strategic Municipals during the third quarter valued at about $5,311,000. Traub Capital Management LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 29.7% in the 3rd quarter. Traub Capital Management LLC now owns 151,077 shares of the investment management company’s stock worth $840,000 after acquiring an additional 34,639 shares during the last quarter. Riverbridge Partners LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 22.5% in the 3rd quarter. Riverbridge Partners LLC now owns 169,136 shares of the investment management company’s stock worth $940,000 after acquiring an additional 31,083 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 27.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 673,664 shares of the investment management company’s stock worth $3,746,000 after acquiring an additional 145,918 shares during the last quarter. Finally, Integrated Capital Management Inc. lifted its position in BNY Mellon Strategic Municipals by 14.9% in the 3rd quarter. Integrated Capital Management Inc. now owns 39,810 shares of the investment management company’s stock valued at $221,000 after acquiring an additional 5,172 shares in the last quarter.

BNY Mellon Strategic Municipals Trading Down 1.6%

Shares of NYSE LEO traded down $0.10 during midday trading on Thursday, hitting $5.88. 450,072 shares of the stock traded hands, compared to its average volume of 260,546. BNY Mellon Strategic Municipals has a one year low of $5.41 and a one year high of $6.55. The business has a 50 day moving average price of $5.77 and a two-hundred day moving average price of $6.20.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.36 annualized dividend and a yield of 6.1%.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc. is a U.S.-listed closed-end investment fund, rather than an operating company. It seeks to provide high current income exempt from federal income tax while also aiming to preserve capital. The fund invests primarily in municipal bonds issued by U.S. state and local governments and related authorities. These securities generally finance public projects and services, and their interest may receive federal tax-exempt treatment. BNY Mellon Investment Adviser, Inc. serves as the fund’s investment adviser.