BNY Mellon Strategic Municipals, Inc. Plans Monthly Dividend of $0.03 (NYSE:LEO)

Key Points

• BNY Mellon Strategic Municipals declared a monthly dividend of $0.026 per share, payable May 29 to holders of record on May 13, with an implied annualized yield of about 4.9% (ex‑dividend date May 13).
• The fund's shares recently traded around $6.31, with 50‑ and 200‑day moving averages near $6.34 and a 52‑week range of $5.71 to $6.55.
• Several institutions materially increased stakes—Bulldog Investors (+104.2%), Guggenheim (+60.3%), Pathstone (+23.2%), and Saba (+6.6%)—and Allspring opened a new position.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) declared a monthly dividend on Wednesday, April 29th. Investors of record on Wednesday, May 13th will be paid a dividend of 0.026 per share by the investment management company on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, May 13th.

BNY Mellon Strategic Municipals Stock Up 0.2%

NYSE:LEO opened at $6.31 on Thursday. The company has a 50-day moving average of $6.34 and a 200-day moving average of $6.33. BNY Mellon Strategic Municipals has a 52 week low of $5.71 and a 52 week high of $6.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bulldog Investors LLP boosted its holdings in BNY Mellon Strategic Municipals by 104.2% during the fourth quarter. Bulldog Investors LLP now owns 1,480,512 shares of the investment management company's stock valued at $9,416,000 after purchasing an additional 755,380 shares in the last quarter. Pathstone Holdings LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 23.2% in the 3rd quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company's stock worth $23,998,000 after buying an additional 723,676 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of BNY Mellon Strategic Municipals by 60.3% during the 4th quarter. Guggenheim Capital LLC now owns 1,545,694 shares of the investment management company's stock worth $9,831,000 after buying an additional 581,458 shares during the period. Saba Capital Management L.P. lifted its position in shares of BNY Mellon Strategic Municipals by 6.6% during the 4th quarter. Saba Capital Management L.P. now owns 6,076,820 shares of the investment management company's stock worth $38,649,000 after buying an additional 378,001 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in BNY Mellon Strategic Municipals in the 3rd quarter valued at $2,065,000.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals NYSE: LEO is a closed-end management investment company that seeks to deliver a high level of current income exempt from U.S. federal income tax. The fund primarily allocates its assets to investment-grade municipal securities, including bonds and other debt instruments issued by U.S. states, territories, municipalities and their authorities.

Beyond traditional investment-grade munis, the fund may also invest in below-investment-grade securities, variable‐rate demand obligations, municipal derivatives and other income-producing instruments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.