BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Short Interest Update
by Amy Steele · The Cerbat GemBNY Mellon Strategic Municipals, Inc. (NYSE:LEO – Get Free Report) was the recipient of a large increase in short interest in the month of 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. Approximately 0.4% of the shares of the stock are short sold. 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. Approximately 0.4% of the shares of the stock are short sold.
BNY Mellon Strategic Municipals Stock Down 0.1%
LEO stock traded down $0.01 on Friday, hitting $6.23. 208,871 shares of the company’s stock traded hands, compared to its average volume of 185,584. BNY Mellon Strategic Municipals has a 1-year low of $5.55 and a 1-year high of $6.37. The stock has a fifty day moving average of $6.27 and a 200-day moving average of $6.08.
BNY Mellon Strategic Municipals Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be given a dividend of $0.023 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, December 11th.
Institutional Investors Weigh In On BNY Mellon Strategic Municipals
A number of institutional investors and hedge funds have recently modified their holdings of LEO. Williams Jones Wealth Management LLC. acquired a new position in shares of BNY Mellon Strategic Municipals in the 3rd quarter valued at $269,000. Fort Point Capital Partners LLC purchased a new stake in shares of BNY Mellon Strategic Municipals in the 3rd quarter valued at approximately $68,000. Bulldog Investors LLP boosted its stake in BNY Mellon Strategic Municipals by 18.2% in the 3rd quarter. Bulldog Investors LLP now owns 725,132 shares of the investment management company’s stock worth $4,532,000 after purchasing an additional 111,628 shares during the period. Pathstone Holdings LLC grew its position in BNY Mellon Strategic Municipals by 23.2% during the 3rd quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company’s stock worth $23,998,000 after purchasing an additional 723,676 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in BNY Mellon Strategic Municipals by 4.2% during the 3rd quarter. Van ECK Associates Corp now owns 453,270 shares of the investment management company’s stock valued at $2,833,000 after purchasing an additional 18,435 shares during the period.
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.