City of London Investment Management Co. Ltd. Boosts Stock Holdings in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)

Key Points

• City of London Investment Management Co. Ltd. increased its stake in BNY Mellon Strategic Municipals, Inc. by 45.3% in Q1, holding a total of 340,306 shares worth approximately $2,083,000.
• BNY Mellon Strategic Municipals recently declared a monthly dividend of $0.023 per share, representing an annualized yield of 4.7%, with the payment scheduled for August 29th.
• The shares of BNY Mellon Strategic Municipals opened at $5.91, with a 52-week range between $5.55 and $6.64.

City of London Investment Management Co. Ltd. increased its stake in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Free Report) by 45.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,306 shares of the investment management company's stock after purchasing an additional 106,118 shares during the period. City of London Investment Management Co. Ltd. owned 0.55% of BNY Mellon Strategic Municipals worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Market Strategies LLC raised its position in BNY Mellon Strategic Municipals by 18.0% during the 1st quarter. Capital Market Strategies LLC now owns 13,121 shares of the investment management company's stock worth $80,000 after buying an additional 2,000 shares during the last quarter. Wedbush Securities Inc. raised its position in BNY Mellon Strategic Municipals by 15.5% during the 4th quarter. Wedbush Securities Inc. now owns 22,389 shares of the investment management company's stock worth $135,000 after buying an additional 3,000 shares during the last quarter. Integrated Capital Management Inc. raised its position in BNY Mellon Strategic Municipals by 14.8% during the 1st quarter. Integrated Capital Management Inc. now owns 36,675 shares of the investment management company's stock worth $224,000 after buying an additional 4,723 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in BNY Mellon Strategic Municipals during the 1st quarter worth approximately $38,000. Finally, Envestnet Asset Management Inc. raised its position in 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 worth $1,185,000 after buying an additional 6,191 shares during the last quarter.

BNY Mellon Strategic Municipals Stock Performance

LEO traded down $0.04 during trading on Friday, reaching $5.89. 108,368 shares of the company's stock were exchanged, compared to its average volume of 161,057. BNY Mellon Strategic Municipals, Inc. has a 1 year low of $5.55 and a 1 year high of $6.64. The company's fifty day simple moving average is $5.84 and its 200-day simple moving average is $5.97.

BNY Mellon Strategic Municipals Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.023 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a c) dividend on an annualized basis and a yield of 4.7%.

BNY Mellon Strategic Municipals Company 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.