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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 54,700 shares, a growth of 173.5% from the July 15th total of 20,000 shares. Based on an average daily trading volume, of 188,100 shares, the short-interest ratio is presently 0.3 days.

BNY Mellon Strategic Municipals Price Performance

BNY Mellon Strategic Municipals stock traded down $0.05 during mid-day trading on Thursday, reaching $6.38. 133,757 shares of the company were exchanged, compared to its average volume of 173,045. The company has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $6.05. BNY Mellon Strategic Municipals has a 12 month low of $4.98 and a 12 month high of $6.43.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th will be given a $0.019 dividend. This represents a $0.23 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Wednesday, August 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Matisse Capital lifted its stake in BNY Mellon Strategic Municipals by 1.1% in the 2nd quarter. Matisse Capital now owns 273,100 shares of the investment management company’s stock worth $1,671,000 after purchasing an additional 3,100 shares in the last quarter. Integrated Capital Management Inc. boosted its position in shares of BNY Mellon Strategic Municipals by 16.8% during the 2nd quarter. Integrated Capital Management Inc. now owns 32,710 shares of the investment management company’s stock valued at $200,000 after acquiring an additional 4,709 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in shares of BNY Mellon Strategic Municipals during the 4th quarter valued at about $68,000. Ackerman Capital Advisors LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 5.0% during the second quarter. Ackerman Capital Advisors LLC now owns 251,177 shares of the investment management company’s stock valued at $1,537,000 after acquiring an additional 11,944 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in BNY Mellon Strategic Municipals during the second quarter worth about $90,000.

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.