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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) saw a large drop in short interest in August. As of August 14th, there was short interest totaling 47,833 shares, a drop of 45.6% from the July 30th total of 87,912 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 340,829 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Large investors have recently modified their holdings of the stock. Capital Analysts LLC acquired a new position in BNY Mellon Strategic Municipals in the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC acquired a new position in shares of BNY Mellon Strategic Municipals in the fourth quarter valued at approximately $29,000. BOKF NA bought a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter worth approximately $78,000. Evolve Private Wealth LLC bought a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter worth approximately $96,000. Finally, Summit Financial LLC acquired a new stake in BNY Mellon Strategic Municipals during the 4th quarter worth approximately $113,000.

BNY Mellon Strategic Municipals Stock Performance

Shares of LEO stock traded up $0.03 during trading on Friday, reaching $6.20. The company’s stock had a trading volume of 68,767 shares, compared to its average volume of 248,254. BNY Mellon Strategic Municipals has a one year low of $5.87 and a one year high of $6.55. The business has a fifty day moving average price of $6.30 and a 200-day moving average price of $6.34.

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

BNY Mellon Strategic Municipals Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 5.8%.

About BNY Mellon Strategic Municipals

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.