Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Declines By 35.6%

Key Points

• Short interest fell 35.6% — short interest in BNY Mellon Strategic Municipals (NYSE:LEO) dropped to 24,076 shares as of Feb 27, leaving a days-to-cover ratio of just 0.1 days and effectively 0.0% of shares short.
• Monthly dividend announced — the fund declared a $0.026 per share monthly dividend (ex-dividend Mar 12, payable Mar 31), implying an annualized yield of about 5.0%.
• Several institutional investors initiated or added small stakes in LEO in recent quarters — notable new or increased positions include Capital Analysts, Gilpin Wealth, CWM, Fort Point Capital, and BOKF NA, with individual stakes roughly $26k–$78k.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 24,076 shares, a decrease of 35.6% from the February 12th total of 37,390 shares. Based on an average daily trading volume, of 218,819 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 218,819 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of BNY Mellon Strategic Municipals

A number of hedge funds have recently modified their holdings of LEO. Capital Analysts LLC purchased a new position in BNY Mellon Strategic Municipals during the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in BNY Mellon Strategic Municipals during the fourth quarter worth $29,000. CWM LLC grew its position in BNY Mellon Strategic Municipals by 72.7% during the third quarter. CWM LLC now owns 6,305 shares of the investment management company's stock valued at $39,000 after buying an additional 2,654 shares during the period. Fort Point Capital Partners LLC acquired a new stake in BNY Mellon Strategic Municipals during the third quarter valued at $68,000. Finally, BOKF NA purchased a new position in BNY Mellon Strategic Municipals in the fourth quarter valued at $78,000.

BNY Mellon Strategic Municipals Stock Performance

LEO traded down $0.05 during trading on Friday, reaching $6.26. 159,536 shares of the company's stock were exchanged, compared to its average volume of 165,268. BNY Mellon Strategic Municipals has a 1 year low of $5.55 and a 1 year high of $6.55. The company's fifty day simple moving average is $6.43 and its 200-day simple moving average is $6.30.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.026 per share. The ex-dividend date is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals NYSE: LEO is a closed-end management investment company that seeks to deliver a high level of current income exempt from U.S. federal income tax. The fund primarily allocates its assets to investment-grade municipal securities, including bonds and other debt instruments issued by U.S. states, territories, municipalities and their authorities.

Beyond traditional investment-grade munis, the fund may also invest in below-investment-grade securities, variable‐rate demand obligations, municipal derivatives and other income-producing instruments.

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