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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) saw 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. Based on an average trading volume of 134,211 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of institutional investors have recently added to or reduced their stakes in LEO. Hennion & Walsh Asset Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipals by 110.8% in 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 during the last quarter. Almitas Capital LLC bought a new position in BNY Mellon Strategic Municipals during the second quarter worth $4,662,000. Capstone Investment Advisors LLC bought a new position in BNY Mellon Strategic Municipals during the second quarter worth $2,454,000. Sit Investment Associates Inc. boosted its holdings in BNY Mellon Strategic Municipals by 35.3% in the fourth quarter. Sit Investment Associates Inc. now owns 1,104,133 shares of the investment management company’s stock worth $7,022,000 after purchasing an additional 288,207 shares during the period. Finally, Altium Capital Management LLC acquired a new position in BNY Mellon Strategic Municipals in the fourth quarter worth $1,667,000.

BNY Mellon Strategic Municipals Trading Up 0.1%

Shares of LEO traded up $0.01 during mid-day trading on Wednesday, reaching $5.79. 15,523 shares of the stock traded hands, compared to its average volume of 201,988. The stock has a fifty day simple moving average of $6.20 and a 200 day simple moving average of $6.30. BNY Mellon Strategic Municipals has a 12-month low of $5.78 and a 12-month high of $6.55.

BNY Mellon Strategic Municipals Announces Dividend

The company 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. This represents a c) dividend on an annualized basis 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.