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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 66,000 shares, a growth of 78.9% from the April 30th total of 36,900 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 178,400 shares, the days-to-cover ratio is presently 0.4 days.

BNY Mellon Strategic Municipals Stock Down 0.9%

Shares of BNY Mellon Strategic Municipals stock traded down $0.05 during trading on Monday, reaching $5.78. 23,876 shares of the company traded hands, compared to its average volume of 178,071. BNY Mellon Strategic Municipals has a 1-year low of $5.55 and a 1-year high of $6.64. The company has a 50 day moving average price of $5.89 and a 200-day moving average price of $6.09.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.28 annualized dividend and a dividend yield of 4.78%. This is a positive change from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02.

Institutional Trading of BNY Mellon Strategic Municipals

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in BNY Mellon Strategic Municipals in the first quarter worth approximately $38,000. Walleye Capital LLC bought a new position in shares of BNY Mellon Strategic Municipals in 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% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,003 shares of the investment management company’s stock valued at $72,000 after buying an additional 11,003 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in BNY Mellon Strategic Municipals during the first quarter worth $72,000. Finally, Capital Market Strategies LLC raised its position in 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 valued at $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.