Pathstone Holdings LLC Buys 384,579 Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)

Pathstone Holdings LLC lifted its stake in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Free Report) by 34.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,488,106 shares of the investment management company's stock after buying an additional 384,579 shares during the period. Pathstone Holdings LLC's holdings in BNY Mellon Strategic Municipals were worth $8,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEO. Walleye Capital LLC acquired a new position in BNY Mellon Strategic Municipals during the 4th quarter worth $71,000. PNC Financial Services Group Inc. grew its position in shares of BNY Mellon Strategic Municipals by 1,100.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,003 shares of the investment management company's stock valued at $72,000 after purchasing an additional 11,003 shares during the period. Avior Wealth Management LLC raised its stake in shares of BNY Mellon Strategic Municipals by 16.2% in the 4th quarter. Avior Wealth Management LLC now owns 18,389 shares of the investment management company's stock valued at $111,000 after purchasing an additional 2,559 shares during the period. Virtu Financial LLC bought a new stake in shares of BNY Mellon Strategic Municipals in the fourth quarter worth $112,000. Finally, Landscape Capital Management L.L.C. acquired a new position in BNY Mellon Strategic Municipals during the fourth quarter valued at approximately $126,000.

BNY Mellon Strategic Municipals Stock Performance

Shares of NYSE LEO traded down $0.08 during midday trading on Wednesday, hitting $5.82. 236,571 shares of the company's stock were exchanged, compared to its average volume of 178,198. The company's 50 day moving average price is $5.94 and its 200 day moving average price is $6.11. BNY Mellon Strategic Municipals, Inc. has a 12 month low of $5.55 and a 12 month high of $6.64.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.023 per share. This represents a $0.28 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Thursday, June 12th. This is a positive change from BNY Mellon Strategic Municipals's previous monthly dividend of $0.02.

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.