Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Declines By 43.8%

Key Points

• Short interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) decreased by 43.8%, falling from 103,000 shares on August 15th to 57,900 shares by August 31st.
• Several institutional investors have acquired new positions in the stock, with significant investments including $118,000 from Nomura Holdings Inc. and $86,000 from Koshinski Asset Management Inc.
• BNY Mellon Strategic Municipals recently announced a monthly dividend of $0.023 per share, which will be paid on October 1st, representing an annualized yield of 4.5%.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - ) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 57,900 shares, a drop of 43.8% from the August 15th total of 103,000 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 160,900 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 160,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of BNY Mellon Strategic Municipals during the first quarter valued at $38,000. Confluence Wealth Services Inc. bought a new position in shares of BNY Mellon Strategic Municipals during the first quarter valued at $72,000. Capital Market Strategies LLC lifted its holdings in shares of 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 valued at $80,000 after acquiring an additional 2,000 shares during the period. Koshinski Asset Management Inc. bought a new position in shares of BNY Mellon Strategic Municipals during the second quarter valued at $86,000. Finally, Nomura Holdings Inc. bought a new position in shares of BNY Mellon Strategic Municipals during the second quarter valued at $118,000.

BNY Mellon Strategic Municipals Stock Down 0.1%

Shares of LEO stock opened at $6.17 on Friday. BNY Mellon Strategic Municipals has a one year low of $5.55 and a one year high of $6.64. The stock has a fifty day moving average price of $5.90 and a 200 day moving average price of $5.92.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $0.023 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%.

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.

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