Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Declines By 14.0%

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 20,800 shares, a decline of 14.0% from the August 31st total of 24,200 shares. Based on an average trading volume of 164,100 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Novak & Powell Financial Services Inc. bought a new stake in BNY Mellon Strategic Municipals in the 4th quarter valued at approximately $145,000. Nomura Holdings Inc. bought a new position in shares of BNY Mellon Strategic Municipals during the 4th quarter worth approximately $346,000. Rothschild Investment LLC bought a new stake in shares of BNY Mellon Strategic Municipals in the second quarter worth $245,000. Van ECK Associates Corp lifted its position in shares of BNY Mellon Strategic Municipals by 14.1% in the first quarter. Van ECK Associates Corp now owns 543,640 shares of the investment management company’s stock worth $3,316,000 after purchasing an additional 67,120 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in BNY Mellon Strategic Municipals during the second quarter worth $156,000.

BNY Mellon Strategic Municipals Stock Performance

Shares of NYSE:LEO opened at $6.51 on Friday. BNY Mellon Strategic Municipals has a 12 month low of $4.98 and a 12 month high of $6.64. The company’s fifty day simple moving average is $6.38 and its 200 day simple moving average is $6.15.

BNY Mellon Strategic Municipals Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $0.019 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.50%.

About BNY Mellon Strategic Municipals

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.