BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Stock Short Interest Report for October

Key Points

• Short interest plunged 71% to 26,356 shares as of October 15, representing approximately 0.0% of shares outstanding and a short-interest ratio of 0.1 days.
• Major shareholder Saba Capital Management acquired 322,858 shares at an average price of $5.65, increasing its position by 5.3% to 6.41 million shares.
• LEO opened at $5.91, within its $5.41–$6.55 one-year range, and declared a monthly dividend of $0.03 per share, equivalent to a 6.1% annualized yield.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 26,356 shares, a drop of 71.0% from the September 30th total of 90,909 shares. Based on an average daily trading volume, of 300,874 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 322,858 shares of the company's stock in a transaction on Friday, October 16th. The shares were bought at an average cost of $5.65 per share, with a total value of $1,824,147.70. Following the purchase, the insider owned 6,413,388 shares of the company's stock, valued at $36,235,642.20. This represents a 5.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 469,425 shares of company stock valued at $2,660,103. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

Institutional investors have recently added to or reduced their stakes in the business. Venture Visionary Partners LLC acquired a new stake in shares of BNY Mellon Strategic Municipals in the 3rd quarter valued at approximately $81,000. Advisor OS LLC acquired a new stake in BNY Mellon Strategic Municipals in the second quarter valued at $123,000. Corient Private Wealth LP acquired a new stake in BNY Mellon Strategic Municipals in the second quarter valued at $144,000. Noble Wealth Management PBC lifted its holdings in BNY Mellon Strategic Municipals by 16.6% in the third quarter. Noble Wealth Management PBC now owns 26,756 shares of the investment management company's stock valued at $149,000 after acquiring an additional 3,800 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of BNY Mellon Strategic Municipals during the 2nd quarter worth $156,000.

BNY Mellon Strategic Municipals Stock Performance

Shares of BNY Mellon Strategic Municipals stock opened at $5.91 on Wednesday. BNY Mellon Strategic Municipals has a one year low of $5.41 and a one year high of $6.55. The firm has a fifty day moving average of $5.82 and a two-hundred day moving average of $6.22.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 14th.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc NYSE: LEO is a closed-end management investment company that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities, and other public authorities.

Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities. By investing in debt issued across the United States, the fund provides exposure to the municipal bond market rather than operating a conventional commercial business or selling products and services directly to consumers.

BNY Mellon Investment Adviser, Inc, an affiliate of The Bank of New York Mellon Corporation, serves as the fund's investment adviser.

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