Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Declines By 61.3%

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 37,390 shares, a decrease of 61.3% from the January 29th total of 96,520 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 148,440 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 148,440 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are short sold.

BNY Mellon Strategic Municipals Price Performance

Shares of LEO opened at $6.46 on Thursday. The business’s 50 day moving average is $6.41 and its 200 day moving average is $6.26. BNY Mellon Strategic Municipals has a 12-month low of $5.55 and a 12-month high of $6.55.

BNY Mellon Strategic Municipals Increases Dividend

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

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Analysts LLC purchased a new position in BNY Mellon Strategic Municipals during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new stake in BNY Mellon Strategic Municipals in the 4th quarter worth $29,000. CWM LLC boosted its holdings in shares of BNY Mellon Strategic Municipals by 72.7% during the 3rd quarter. CWM LLC now owns 6,305 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 2,654 shares during the last quarter. Fort Point Capital Partners LLC purchased a new position in shares of BNY Mellon Strategic Municipals during the third quarter valued at about $68,000. Finally, BOKF NA purchased a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter valued at about $78,000.

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.