Sit Investment Associates Inc. Acquires 227,008 Shares of BNY Mellon Strategic Municipals, Inc. $LEO

Key Points

• Sit Investment Associates Inc. increased its stake in BNY Mellon Strategic Municipals by 72.4%, owning approximately 540,651 shares valued at $3.31 million by the end of the reporting period.
• Other large investors such as Saba Capital Management and Pathstone Holdings also expanded their positions in the company, reflecting growing institutional interest.
• BNY Mellon Strategic Municipals announced a monthly dividend of $0.023 with a dividend yield of 4.7%, scheduled to be paid on August 29th.

Sit Investment Associates Inc. raised its position in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Free Report) by 72.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 540,651 shares of the investment management company's stock after purchasing an additional 227,008 shares during the period. Sit Investment Associates Inc. owned 0.87% of BNY Mellon Strategic Municipals worth $3,309,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the first quarter valued at $38,000. Walleye Capital LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the 4th quarter valued at $71,000. Confluence Wealth Services Inc. acquired a new stake in shares of BNY Mellon Strategic Municipals in the first quarter valued at $72,000. Capital Market Strategies LLC grew its holdings in BNY Mellon Strategic Municipals by 18.0% during the first quarter. Capital Market Strategies LLC now owns 13,121 shares of the investment management company's stock worth $80,000 after acquiring an additional 2,000 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in BNY Mellon Strategic Municipals in the 1st quarter valued at about $160,000.

BNY Mellon Strategic Municipals Trading Up 0.1%

Shares of NYSE LEO traded up $0.0050 during mid-day trading on Thursday, hitting $5.8450. 30,730 shares of the company traded hands, compared to its average volume of 174,127. The business has a 50 day moving average of $5.85 and a two-hundred day moving average of $5.95. BNY Mellon Strategic Municipals, Inc. has a 1 year low of $5.55 and a 1 year high of $6.64.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be paid a $0.023 dividend. The ex-dividend date is Wednesday, August 13th. This represents a c) dividend on an annualized basis and a yield of 4.7%.

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.