BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Short Interest Down 30.9% in May

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 45,600 shares, a drop of 30.9% from the May 15th total of 66,000 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 182,100 shares, the short-interest ratio is presently 0.3 days.

BNY Mellon Strategic Municipals Stock Down 0.1%

Shares of LEO stock opened at $5.81 on Tuesday. The business’s fifty day moving average is $5.83 and its 200 day moving average is $6.05. BNY Mellon Strategic Municipals has a twelve month low of $5.55 and a twelve month high of $6.64.

BNY Mellon Strategic Municipals Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.023 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Thursday, June 12th. This is a boost from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02.

Institutional Trading of BNY Mellon Strategic Municipals

A number of hedge funds and other institutional investors have recently modified their holdings of LEO. Farther Finance Advisors LLC bought a new stake in BNY Mellon Strategic Municipals during the first quarter worth about $38,000. Walleye Capital LLC purchased a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter valued at approximately $71,000. PNC Financial Services Group Inc. boosted its position in shares of BNY Mellon Strategic Municipals by 1,100.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,003 shares of the investment management company’s stock worth $72,000 after purchasing an additional 11,003 shares in the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of BNY Mellon Strategic Municipals in the 1st quarter worth approximately $72,000. Finally, Capital Market Strategies LLC grew its stake in shares of BNY Mellon Strategic Municipals by 18.0% in the 1st quarter. Capital Market Strategies LLC now owns 13,121 shares of the investment management company’s stock worth $80,000 after buying an additional 2,000 shares during the last quarter.

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.