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

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in BNY Mellon Strategic Municipals in the first quarter valued at about $38,000. Confluence Wealth Services Inc. acquired a new stake in BNY Mellon Strategic Municipals during the first quarter worth about $72,000. Capital Market Strategies LLC boosted its stake in BNY Mellon Strategic Municipals by 18.0% in 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 BNY Mellon Strategic Municipals during the 2nd quarter worth $86,000. Finally, Nomura Holdings Inc. acquired a new stake in BNY Mellon Strategic Municipals in the second quarter worth $118,000.

BNY Mellon Strategic Municipals Price Performance

Shares of LEO traded down $0.05 during mid-day trading on Friday, hitting $6.19. The company had a trading volume of 43,528 shares, compared to its average volume of 174,141. BNY Mellon Strategic Municipals has a 1-year low of $5.55 and a 1-year high of $6.64. The business's 50-day simple moving average is $5.92 and its 200-day simple moving average is $5.92.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a dividend of $0.023 per share. The ex-dividend date 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.