BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Sees Large Drop in Short Interest

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 45,600 shares, a drop of 30.9% from the May 15th total of 66,000 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 182,100 shares, the days-to-cover ratio is presently 0.3 days.

BNY Mellon Strategic Municipals Stock Up 0.1%

NYSE:LEO traded up $0.01 during mid-day trading on Friday, hitting $5.79. The stock had a trading volume of 171,552 shares, compared to its average volume of 175,943. BNY Mellon Strategic Municipals has a twelve month low of $5.55 and a twelve month high of $6.64. The stock has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $6.04.

BNY Mellon Strategic Municipals Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, June 12th will be issued a $0.023 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.77%. This is an increase from BNY Mellon Strategic Municipals's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Thursday, June 12th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LEO. Capital Market Strategies LLC increased its position in BNY Mellon Strategic Municipals by 18.0% in the 1st quarter. Capital Market Strategies LLC now owns 13,121 shares of the investment management company's stock valued at $80,000 after acquiring an additional 2,000 shares during the period. Wedbush Securities Inc. grew its stake in shares of BNY Mellon Strategic Municipals by 15.5% in the 4th quarter. Wedbush Securities Inc. now owns 22,389 shares of the investment management company's stock valued at $135,000 after purchasing an additional 3,000 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of BNY Mellon Strategic Municipals by 15.7% in the 1st quarter. Landscape Capital Management L.L.C. now owns 24,174 shares of the investment management company's stock valued at $148,000 after purchasing an additional 3,275 shares during the last quarter. Integrated Capital Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipals by 14.8% in the first quarter. Integrated Capital Management Inc. now owns 36,675 shares of the investment management company's stock valued at $224,000 after purchasing an additional 4,723 shares during the period. Finally, Farther Finance Advisors LLC purchased a new stake in shares of BNY Mellon Strategic Municipals during the first quarter worth approximately $38,000.

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.