BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Stock Short Interest Report for October

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 26,356 shares, a decrease of 71.0% from the September 30th total of 90,909 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 300,874 shares, the short-interest ratio is currently 0.1 days.

Insiders Place Their Bets

In other BNY Mellon Strategic Municipals news, major shareholder Saba Capital Management, L.P. bought 322,858 shares of the company’s stock in a transaction on Friday, October 16th. The stock was purchased at an average cost of $5.65 per share, for a total transaction of $1,824,147.70. Following the acquisition, the insider owned 6,413,388 shares of the company’s stock, valued at $36,235,642.20. The trade was a 5.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 469,425 shares of company stock worth $2,660,103. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LEO. Integrated Capital Management Inc. raised its position in shares of BNY Mellon Strategic Municipals by 14.9% in the 3rd quarter. Integrated Capital Management Inc. now owns 39,810 shares of the investment management company’s stock valued at $221,000 after purchasing an additional 5,172 shares in the last quarter. Venture Visionary Partners LLC acquired a new position in BNY Mellon Strategic Municipals in the third quarter worth $81,000. Noble Wealth Management PBC increased its stake in BNY Mellon Strategic Municipals by 16.6% during the third quarter. Noble Wealth Management PBC now owns 26,756 shares of the investment management company’s stock valued at $149,000 after purchasing an additional 3,800 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of BNY Mellon Strategic Municipals during the second quarter worth $460,000. Finally, Rivernorth Capital Management LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 1.1% during the second quarter. Rivernorth Capital Management LLC now owns 2,006,388 shares of the investment management company’s stock worth $12,961,000 after purchasing an additional 21,196 shares during the period.

BNY Mellon Strategic Municipals Stock Performance

Shares of LEO opened at $5.91 on Wednesday. BNY Mellon Strategic Municipals has a 12-month low of $5.41 and a 12-month high of $6.55. The company has a 50-day moving average of $5.82 and a two-hundred day moving average of $6.22.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 14th.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals, Inc (NYSE: LEO) is a closed-end management investment company that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities, and other public authorities.

Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities. By investing in debt issued across the United States, the fund provides exposure to the municipal bond market rather than operating a conventional commercial business or selling products and services directly to consumers.

BNY Mellon Investment Adviser, Inc, an affiliate of The Bank of New York Mellon Corporation, serves as the fund’s investment adviser.