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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 96,520 shares, a growth of 99.5% from the January 15th total of 48,380 shares. Based on an average daily volume of 171,509 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are short sold. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 171,509 shares, the short-interest ratio is currently 0.6 days.

BNY Mellon Strategic Municipals Price Performance

BNY Mellon Strategic Municipals stock opened at $6.49 on Friday. BNY Mellon Strategic Municipals has a 52 week low of $5.55 and a 52 week high of $6.54. The stock has a fifty day moving average of $6.38 and a 200-day moving average of $6.22.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be paid a $0.026 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Thursday, February 12th. This is an increase from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of institutional investors have recently added to or reduced their stakes in LEO. CWM LLC boosted its position in BNY Mellon Strategic Municipals by 72.7% in the third quarter. CWM LLC now owns 6,305 shares of the investment management company’s stock valued at $39,000 after buying an additional 2,654 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of BNY Mellon Strategic Municipals by 1.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 225,241 shares of the investment management company’s stock valued at $1,408,000 after acquiring an additional 3,113 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of BNY Mellon Strategic Municipals by 3.2% during the 2nd quarter. Centaurus Financial Inc. now owns 111,251 shares of the investment management company’s stock valued at $659,000 after acquiring an additional 3,490 shares in the last quarter. Capital Analysts LLC bought a new stake in BNY Mellon Strategic Municipals during the 4th quarter worth $26,000. Finally, Gilpin Wealth Management LLC acquired a new position in BNY Mellon Strategic Municipals in the 4th quarter worth about $29,000.

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.