Advisors Asset Management Inc. Grows Position in BNY Mellon Strategic Municipals, Inc. $LEO

Key Points

• Advisors Asset Management Inc. boosted its stake in BNY Mellon Strategic Municipals by 40.8%, acquiring an additional 97,807 shares during the first quarter.
• BNY Mellon Strategic Municipals has declared a monthly dividend of $0.023, with an annualized yield of 4.6%, payable on October 1st.
• The stock is currently priced at $6.04, with a 12-month high of $6.64 and a low of $5.55.

Advisors Asset Management Inc. raised its stake in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Free Report) by 40.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 337,786 shares of the investment management company's stock after purchasing an additional 97,807 shares during the period. Advisors Asset Management Inc. owned 0.54% of BNY Mellon Strategic Municipals worth $2,067,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LEO. Nuveen LLC bought a new position in shares of BNY Mellon Strategic Municipals during the 1st quarter valued at approximately $315,000. Merit Financial Group LLC bought a new position in shares of BNY Mellon Strategic Municipals in the first quarter worth approximately $160,000. Sit Investment Associates Inc. increased its stake in shares of BNY Mellon Strategic Municipals by 72.4% in the first quarter. Sit Investment Associates Inc. now owns 540,651 shares of the investment management company's stock worth $3,309,000 after purchasing an additional 227,008 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of BNY Mellon Strategic Municipals by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 193,616 shares of the investment management company's stock valued at $1,185,000 after purchasing an additional 6,191 shares during the period. Finally, City of London Investment Management Co. Ltd. lifted its stake in shares of BNY Mellon Strategic Municipals by 45.3% during the 1st quarter. City of London Investment Management Co. Ltd. now owns 340,306 shares of the investment management company's stock valued at $2,083,000 after buying an additional 106,118 shares in the last quarter.

BNY Mellon Strategic Municipals Trading Up 0.7%

BNY Mellon Strategic Municipals stock traded up $0.05 during mid-day trading on Wednesday, hitting $6.15. The stock had a trading volume of 235,994 shares, compared to its average volume of 174,857. BNY Mellon Strategic Municipals, Inc. has a one year low of $5.55 and a one year high of $6.64. The firm's 50 day moving average is $5.89 and its 200 day moving average is $5.92.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.023 per share. The ex-dividend date is Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 4.5%.

BNY Mellon Strategic Municipals Profile

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.