Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Grows By 403.5%

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) saw a significant increase in short interest in December. As of December 15th, there was short interest totaling 243,064 shares, an increase of 403.5% from the November 30th total of 48,276 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 374,724 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 374,724 shares, the short-interest ratio is currently 0.6 days. Currently, 0.4% of the shares of the stock are sold short.

BNY Mellon Strategic Municipals Price Performance

Shares of LEO opened at $6.24 on Thursday. BNY Mellon Strategic Municipals has a one year low of $5.55 and a one year high of $6.37. The business’s 50 day simple moving average is $6.27 and its 200-day simple moving average is $6.07.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th will be paid a $0.023 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) dividend on an annualized basis and a yield of 4.4%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CWM LLC lifted its position in BNY Mellon Strategic Municipals by 72.7% during the 3rd quarter. CWM LLC now owns 6,305 shares of the investment management company’s stock worth $39,000 after buying an additional 2,654 shares in the last quarter. Fort Point Capital Partners LLC bought a new position in shares of BNY Mellon Strategic Municipals in the third quarter worth about $68,000. Koshinski Asset Management Inc. bought a new position in shares of BNY Mellon Strategic Municipals in the second quarter worth about $86,000. Nomura Holdings Inc. acquired a new position in shares of BNY Mellon Strategic Municipals during the second quarter worth approximately $118,000. Finally, Gridiron Partners LLC grew its stake in shares of BNY Mellon Strategic Municipals by 394.1% during the third quarter. Gridiron Partners LLC now owns 1,994,982 shares of the investment management company’s stock valued at $125,000 after purchasing an additional 1,591,208 shares during the last quarter.

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.