Raymond James Financial Inc. Invests $920,000 in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)

Raymond James Financial Inc. acquired a new position in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 152,250 shares of the investment management company's stock, valued at approximately $920,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LEO. Noble Wealth Management PBC purchased a new stake in BNY Mellon Strategic Municipals in the fourth quarter worth $599,000. Ackerman Capital Advisors LLC grew its stake in shares of BNY Mellon Strategic Municipals by 28.2% during the 4th quarter. Ackerman Capital Advisors LLC now owns 317,221 shares of the investment management company's stock worth $1,916,000 after acquiring an additional 69,719 shares during the period. Wells Fargo & Company MN increased its holdings in BNY Mellon Strategic Municipals by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,465,414 shares of the investment management company's stock worth $8,851,000 after acquiring an additional 64,526 shares during the last quarter. Riverbridge Partners LLC raised its stake in BNY Mellon Strategic Municipals by 40.8% in the 4th quarter. Riverbridge Partners LLC now owns 196,515 shares of the investment management company's stock valued at $1,187,000 after acquiring an additional 56,927 shares during the period. Finally, Daner Wealth Management LLC purchased a new stake in BNY Mellon Strategic Municipals during the fourth quarter valued at about $319,000.

BNY Mellon Strategic Municipals Price Performance

NYSE:LEO remained flat at $5.95 on Friday. 116,106 shares of the company's stock were exchanged, compared to its average volume of 178,216. The company has a 50 day moving average of $5.98 and a two-hundred day moving average of $6.13. 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.019 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.23 dividend on an annualized basis and a yield of 3.83%.

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.