BNY Mellon Municipal Income (NYSE:DMF) Shares Down 0.3% – What’s Next?

BNY Mellon Municipal Income, Inc. (NYSE:DMF) was down 0.3% on Friday . The stock traded as low as $7.14 and last traded at $7.14. Approximately 42,291 shares traded hands during trading, an increase of 13% from the average daily volume of 37,576 shares. The stock had previously closed at $7.16.

BNY Mellon Municipal Income Stock Down 0.3 %

The firm has a fifty day moving average price of $7.12 and a 200 day moving average price of $7.24.

BNY Mellon Municipal Income Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.019 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 3.19%.

Institutional Investors Weigh In On BNY Mellon Municipal Income

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bulldog Investors LLP lifted its position in shares of BNY Mellon Municipal Income by 64.4% during the 4th quarter. Bulldog Investors LLP now owns 1,588,137 shares of the company’s stock valued at $11,298,000 after acquiring an additional 622,204 shares during the period. Citadel Advisors LLC acquired a new stake in shares of BNY Mellon Municipal Income during the 4th quarter valued at approximately $89,000. Lido Advisors LLC acquired a new stake in shares of BNY Mellon Municipal Income during the 4th quarter valued at approximately $1,353,000. Sit Investment Associates Inc. lifted its position in shares of BNY Mellon Municipal Income by 33.0% during the 4th quarter. Sit Investment Associates Inc. now owns 3,000,682 shares of the company’s stock valued at $21,305,000 after acquiring an additional 744,486 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of BNY Mellon Municipal Income during the 4th quarter valued at approximately $873,000.

About BNY Mellon Municipal Income

BNY Mellon Municipal Income, 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 municipal obligations that are rated investment grade and have maturities of less than one year.