Closed End Fund Advisors Inc. Purchases Shares of 105,651 BNY Mellon Strategic Municipals, Inc. $LEO

Closed End Fund Advisors Inc. purchased a new stake in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 105,651 shares of the investment management company’s stock, valued at approximately $672,000. Closed End Fund Advisors Inc. owned 0.17% of BNY Mellon Strategic Municipals as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its position in BNY Mellon Strategic Municipals by 23.2% in the 3rd 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 period. Bulldog Investors LLP increased its position in BNY Mellon Strategic Municipals by 18.2% in the 3rd quarter. Bulldog Investors LLP now owns 725,132 shares of the investment management company’s stock valued at $4,532,000 after acquiring an additional 111,628 shares during the period. Advisors Asset Management Inc. increased its position in BNY Mellon Strategic Municipals by 36.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 694,270 shares of the investment management company’s stock valued at $4,339,000 after acquiring an additional 186,196 shares during the period. Allspring Global Investments Holdings LLC increased its position in BNY Mellon Strategic Municipals by 47.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 487,296 shares of the investment management company’s stock valued at $3,099,000 after acquiring an additional 156,969 shares during the period. Finally, Van ECK Associates Corp increased its position in BNY Mellon Strategic Municipals by 4.2% in the 3rd quarter. Van ECK Associates Corp now owns 453,270 shares of the investment management company’s stock valued at $2,833,000 after acquiring an additional 18,435 shares during the period.

BNY Mellon Strategic Municipals Stock Performance

Shares of NYSE LEO opened at $6.37 on Friday. BNY Mellon Strategic Municipals, Inc. has a 52-week low of $5.71 and a 52-week high of $6.55. The firm has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $6.35.

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

BNY Mellon Strategic Municipals Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.03 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. This is a boost from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.03. The ex-dividend date is Thursday, June 11th.

BNY Mellon Strategic Municipals 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.