Closed End Fund Advisors Inc. Invests $672,000 in BNY Mellon Strategic Municipals, Inc. $LEO

Closed End Fund Advisors Inc. acquired a new position in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 105,651 shares of the investment management company’s stock, valued at approximately $672,000.

Other large investors also recently modified their holdings of the company. Fort Point Capital Partners LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the third quarter worth $68,000. BOKF NA acquired a new stake in shares of BNY Mellon Strategic Municipals during the fourth quarter worth $78,000. Nomura Holdings Inc. acquired a new stake in shares of BNY Mellon Strategic Municipals during the second quarter worth $118,000. Novak & Powell Financial Services Inc. acquired a new stake in shares of BNY Mellon Strategic Municipals during the fourth quarter worth $169,000. Finally, Williams Jones Wealth Management LLC. acquired a new stake in shares of BNY Mellon Strategic Municipals during the third quarter worth $269,000.

BNY Mellon Strategic Municipals Trading Down 0.2%

LEO opened at $6.37 on Friday. BNY Mellon Strategic Municipals, Inc. has a twelve month low of $5.71 and a twelve month high of $6.55. The company has a fifty day moving average of $6.34 and a 200-day moving average of $6.35.

BNY Mellon Strategic Municipals (NYSE:LEO) last issued its earnings results on Friday, May 29th. The investment management company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $7.57 million for the quarter.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be paid a dividend of $0.03 per share. This is a boost from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Thursday, June 11th.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals (NYSE: LEO) is a closed-end management investment company that seeks to deliver a high level of current income exempt from U.S. federal income tax. The fund primarily allocates its assets to investment-grade municipal securities, including bonds and other debt instruments issued by U.S. states, territories, municipalities and their authorities.

Beyond traditional investment-grade munis, the fund may also invest in below-investment-grade securities, variable‐rate demand obligations, municipal derivatives and other income-producing instruments.