BNY Mellon Municipal Income, Inc. (NYSE:DMF) Sees Significant Decline in Short Interest

BNY Mellon Municipal Income, Inc. (NYSE:DMF) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 13,600 shares, a decrease of 31.0% from the May 15th total of 19,700 shares. Based on an average daily trading volume, of 68,600 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

BNY Mellon Municipal Income Price Performance

Shares of DMF stock opened at $6.94 on Tuesday. BNY Mellon Municipal Income has a 52-week low of $6.72 and a 52-week high of $7.52. The company’s 50 day moving average is $6.95 and its 200 day moving average is $7.10.

BNY Mellon Municipal Income Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.078 dividend. The ex-dividend date was Monday, June 9th. This is a boost from BNY Mellon Municipal Income’s previous monthly dividend of $0.02. This represents a $0.94 dividend on an annualized basis and a yield of 13.49%.

Hedge Funds Weigh In On BNY Mellon Municipal Income

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in BNY Mellon Municipal Income in the fourth quarter valued at $89,000. Virtu Financial LLC purchased a new position in BNY Mellon Municipal Income in the 1st quarter valued at about $163,000. Nuveen LLC acquired a new stake in BNY Mellon Municipal Income during the 1st quarter worth $393,000. Bank of New York Mellon Corp grew its position in shares of BNY Mellon Municipal Income by 19.3% in the fourth quarter. Bank of New York Mellon Corp now owns 103,872 shares of the company’s stock valued at $737,000 after purchasing an additional 16,799 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in shares of BNY Mellon Municipal Income by 18.7% during the 1st quarter. Dakota Wealth Management now owns 118,826 shares of the company’s stock valued at $853,000 after acquiring an additional 18,700 shares during the last quarter.

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.