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 increase in short interest in the month of February. As of February 28th, there was short interest totalling 67,600 shares, an increase of 275.6% from the February 13th total of 18,000 shares. Based on an average daily volume of 201,300 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds and other institutional investors have recently bought and sold shares of LEO. Pathstone Holdings LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 133.1% in the 3rd quarter. Pathstone Holdings LLC now owns 1,103,527 shares of the investment management company’s stock valued at $7,185,000 after purchasing an additional 630,137 shares during the period. Saba Capital Management L.P. grew its stake in shares of BNY Mellon Strategic Municipals by 11.2% during the fourth quarter. Saba Capital Management L.P. now owns 4,932,793 shares of the investment management company’s stock worth $29,794,000 after purchasing an additional 496,846 shares during the period. Rivernorth Capital Management LLC increased its holdings in BNY Mellon Strategic Municipals by 25.7% in the third quarter. Rivernorth Capital Management LLC now owns 2,411,067 shares of the investment management company’s stock valued at $15,696,000 after purchasing an additional 492,244 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in BNY Mellon Strategic Municipals in the fourth quarter valued at about $1,736,000. Finally, Raymond James Financial Inc. acquired a new position in shares of BNY Mellon Strategic Municipals during the 4th quarter worth about $920,000.

BNY Mellon Strategic Municipals Price Performance

Shares of NYSE:LEO opened at $6.12 on Friday. BNY Mellon Strategic Municipals has a 1-year low of $5.79 and a 1-year high of $6.64. The business has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $6.29.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.019 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.23 annualized dividend and a yield of 3.73%.

About BNY Mellon Strategic Municipals

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.