BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 16,800 shares, a decrease of 51.9% from the September 15th total of 34,900 shares. Based on an average trading volume of 87,300 shares, the days-to-cover ratio is presently 0.2 days.
Institutional investors and hedge funds have recently modified their holdings of the stock. Proequities Inc. bought a new stake in BNY Mellon Strategic Municipals in the first quarter worth $54,000. US Bancorp DE lifted its position in shares of BNY Mellon Strategic Municipals by 290.5% during the second quarter. US Bancorp DE now owns 7,810 shares of the investment management company’s stock worth $70,000 after purchasing an additional 5,810 shares during the last quarter. Perkins Coie Trust Co bought a new stake in shares of BNY Mellon Strategic Municipals during the second quarter worth $81,000. Citigroup Inc. bought a new stake in shares of BNY Mellon Strategic Municipals during the first quarter worth $87,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the second quarter worth $116,000. Institutional investors own 11.02% of the company’s stock.
Shares of NYSE LEO traded up $0.10 during midday trading on Thursday, reaching $8.73. 68,079 shares of the stock traded hands, compared to its average volume of 88,935. BNY Mellon Strategic Municipals has a one year low of $7.97 and a one year high of $9.50. The company’s 50 day moving average is $9.08 and its 200 day moving average is $8.95.
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.
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