Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Grows By 106.8%
by Tristan Rich · The Markets DailyBNY Mellon Strategic Municipals, Inc. (NYSE:LEO – Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 98,915 shares, an increase of 106.8% from the August 15th total of 47,833 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 134,211 shares, the short-interest ratio is currently 0.7 days.
Institutional Investors Weigh In On BNY Mellon Strategic Municipals
Several institutional investors and hedge funds have recently bought and sold shares of the business. Altium Capital Management LLC raised its stake in shares of BNY Mellon Strategic Municipals by 67.4% in the 1st quarter. Altium Capital Management LLC now owns 438,676 shares of the investment management company’s stock valued at $2,759,000 after buying an additional 176,624 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of BNY Mellon Strategic Municipals by 110.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,683,135 shares of the investment management company’s stock valued at $10,873,000 after acquiring an additional 884,861 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the 2nd quarter valued at about $1,153,000. Almitas Capital LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the 2nd quarter valued at about $4,662,000. Finally, Closed End Fund Advisors Inc. bought a new stake in BNY Mellon Strategic Municipals in the fourth quarter valued at about $672,000.
BNY Mellon Strategic Municipals Price Performance
Shares of NYSE:LEO traded down $0.06 during trading on Tuesday, hitting $5.80. 244,639 shares of the stock were exchanged, compared to its average volume of 111,388. BNY Mellon Strategic Municipals has a 1-year low of $5.79 and a 1-year high of $6.55. The company’s fifty day simple moving average is $6.20 and its 200-day simple moving average is $6.30.
BNY Mellon Strategic Municipals Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be given a $0.03 dividend. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Monday, September 14th.
About BNY Mellon Strategic Municipals
BNY Mellon Strategic Municipals, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol LEO. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal obligations issued by states, municipalities and other governmental entities.
The fund’s portfolio may include a range of tax-exempt securities, such as general obligation bonds, revenue bonds and other municipal debt instruments. These securities can support public services and infrastructure projects, including education, transportation, utilities and healthcare.