Almitas Capital LLC Acquires New Stake in BNY Mellon Strategic Municipals, Inc. $LEO

Key Points

• Almitas Capital LLC acquired 757,999 shares of BNY Mellon Strategic Municipals in the second quarter, valued at approximately $4.66 million. The position represents about 1.1% of Almitas’ portfolio and 1.22% of LEO’s outstanding shares.
• Several other institutional investors also increased or initiated positions, including Invesco, Whitebox Advisors, Bank of America, Curi Capital and Corient Private Wealth.
• LEO was trading at $6.17, near the lower end of its 12-month range, while the fund reported quarterly EPS of $0.08 and declared a $0.03 monthly dividend, representing a 5.8% yield.

Almitas Capital LLC acquired a new position in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 757,999 shares of the investment management company's stock, valued at approximately $4,662,000. BNY Mellon Strategic Municipals makes up 1.1% of Almitas Capital LLC's investment portfolio, making the stock its 23rd biggest holding. Almitas Capital LLC owned approximately 1.22% of BNY Mellon Strategic Municipals as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in LEO. Invesco Ltd. purchased a new stake in shares of BNY Mellon Strategic Municipals during the second quarter worth about $561,000. Whitebox Advisors LLC boosted its holdings in shares of BNY Mellon Strategic Municipals by 14.3% during the second quarter. Whitebox Advisors LLC now owns 305,421 shares of the investment management company's stock worth $1,808,000 after purchasing an additional 38,121 shares during the last quarter. Bank of America Corp DE grew its position in shares of BNY Mellon Strategic Municipals by 4.5% in the second quarter. Bank of America Corp DE now owns 204,596 shares of the investment management company's stock valued at $1,211,000 after purchasing an additional 8,810 shares during the period. Curi Capital LLC purchased a new stake in shares of BNY Mellon Strategic Municipals in the second quarter valued at $740,000. Finally, Corient Private Wealth LLC increased its stake in BNY Mellon Strategic Municipals by 5.8% in the second quarter. Corient Private Wealth LLC now owns 118,305 shares of the investment management company's stock valued at $700,000 after purchasing an additional 6,499 shares during the last quarter.

BNY Mellon Strategic Municipals Trading Down 0.6%

NYSE LEO opened at $6.17 on Friday. The business's 50-day moving average price is $6.30 and its 200 day moving average price is $6.34. BNY Mellon Strategic Municipals, Inc. has a twelve month low of $5.83 and a twelve month high of $6.55.

BNY Mellon Strategic Municipals (NYSE:LEO - Get Free Report) last issued its quarterly earnings results on Friday, May 29th. The investment management company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $7.57 million during the quarter.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 5.8%.

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.

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