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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 55,900 shares, a drop of 26.3% from the March 15th total of 75,800 shares. Based on an average trading volume of 173,200 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LEO. Saba Capital Management L.P. raised its position in shares of BNY Mellon Strategic Municipals by 11.2% during the 4th quarter. Saba Capital Management L.P. now owns 4,932,793 shares of the investment management company’s stock valued at $29,794,000 after acquiring an additional 496,846 shares during the last quarter. Rivernorth Capital Management LLC boosted its position in BNY Mellon Strategic Municipals by 25.7% during the 3rd quarter. Rivernorth Capital Management LLC now owns 2,411,067 shares of the investment management company’s stock worth $15,696,000 after acquiring an additional 492,244 shares during the last quarter. Pathstone Holdings LLC grew its position in BNY Mellon Strategic Municipals by 34.8% in the fourth quarter. Pathstone Holdings LLC now owns 1,488,106 shares of the investment management company’s stock valued at $8,993,000 after purchasing an additional 384,579 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of BNY Mellon Strategic Municipals by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,465,414 shares of the investment management company’s stock valued at $8,851,000 after acquiring an additional 64,526 shares in the last quarter. Finally, Logan Stone Capital LLC increased its position in shares of BNY Mellon Strategic Municipals by 0.6% during the 4th quarter. Logan Stone Capital LLC now owns 1,244,554 shares of the investment management company’s stock worth $7,517,000 after purchasing an additional 7,130 shares during the last quarter.

BNY Mellon Strategic Municipals Stock Performance

Shares of NYSE:LEO opened at $5.82 on Friday. BNY Mellon Strategic Municipals has a 52 week low of $5.55 and a 52 week high of $6.64. The company’s fifty day moving average is $6.11 and its 200-day moving average is $6.20.

BNY Mellon Strategic Municipals Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be given a dividend of $0.019 per share. The ex-dividend date is Monday, April 14th. This represents a $0.23 annualized dividend and a yield of 3.92%.

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.