Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Drops By 36.9%

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 56,560 shares, a decrease of 36.9% from the May 31st total of 89,617 shares. Based on an average daily trading volume, of 230,942 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

BNY Mellon Strategic Municipals Trading Down 1.0%

Shares of BNY Mellon Strategic Municipals stock traded down $0.07 during trading on Thursday, hitting $6.45. 227,118 shares of the company’s stock traded hands, compared to its average volume of 193,678. BNY Mellon Strategic Municipals has a 1 year low of $5.71 and a 1 year high of $6.55. The business has a 50-day simple moving average of $6.38 and a 200-day simple moving average of $6.37.

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 company had revenue of $7.57 million for the quarter.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a yield of 5.6%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in BNY Mellon Strategic Municipals during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in BNY Mellon Strategic Municipals in the fourth quarter worth about $29,000. Fort Point Capital Partners LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the 3rd quarter valued at about $68,000. BOKF NA purchased a new stake in shares of BNY Mellon Strategic Municipals during the 4th quarter valued at about $78,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of BNY Mellon Strategic Municipals during the 4th quarter valued at about $96,000.

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.