Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Expands By 106.8%

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 98,915 shares, a growth of 106.8% from the August 15th total of 47,833 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 134,211 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds have recently made changes to their positions in LEO. Readystate Asset Management LP acquired a new stake in BNY Mellon Strategic Municipals during the second quarter worth approximately $460,000. Rivernorth Capital Management LLC grew its position in shares of BNY Mellon Strategic Municipals by 1.1% in the second quarter. Rivernorth Capital Management LLC now owns 2,006,388 shares of the investment management company’s stock valued at $12,961,000 after purchasing an additional 21,196 shares in the last quarter. Centaurus Financial Inc. bought a new position in BNY Mellon Strategic Municipals in the 2nd quarter valued at $591,000. Capstone Investment Advisors LLC purchased a new stake in BNY Mellon Strategic Municipals in the second quarter worth approximately $1,153,000. Finally, Almitas Capital LLC bought a new stake in BNY Mellon Strategic Municipals during the 2nd quarter valued at $530,000.

BNY Mellon Strategic Municipals Price Performance

NYSE LEO traded down $0.07 during midday trading on Monday, hitting $5.86. The company had a trading volume of 81,785 shares, compared to its average volume of 202,862. BNY Mellon Strategic Municipals has a twelve month low of $5.85 and a twelve month high of $6.55. The firm has a 50-day moving average price of $6.22 and a 200-day moving average price of $6.31.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) annualized dividend and a dividend yield of 6.1%.

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.