BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Short Interest Up 78.9% in May

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 66,000 shares, a growth of 78.9% from the April 30th total of 36,900 shares. Based on an average daily trading volume, of 178,400 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company's stock are short sold.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in BNY Mellon Strategic Municipals by 40.8% in the 1st quarter. Advisors Asset Management Inc. now owns 337,786 shares of the investment management company's stock valued at $2,067,000 after buying an additional 97,807 shares during the last quarter. Almitas Capital LLC grew its position in shares of BNY Mellon Strategic Municipals by 35.7% in the first quarter. Almitas Capital LLC now owns 145,014 shares of the investment management company's stock valued at $887,000 after purchasing an additional 38,160 shares during the last quarter. Landscape Capital Management L.L.C. increased its stake in shares of BNY Mellon Strategic Municipals by 15.7% in the first quarter. Landscape Capital Management L.L.C. now owns 24,174 shares of the investment management company's stock worth $148,000 after purchasing an additional 3,275 shares during the period. Thomas J. Herzfeld Advisors Inc. lifted its position in shares of BNY Mellon Strategic Municipals by 45.1% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 71,290 shares of the investment management company's stock worth $436,000 after purchasing an additional 22,145 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in BNY Mellon Strategic Municipals by 72.4% during the 1st quarter. Sit Investment Associates Inc. now owns 540,651 shares of the investment management company's stock valued at $3,309,000 after purchasing an additional 227,008 shares during the period.

BNY Mellon Strategic Municipals Stock Performance

Shares of LEO traded down $0.05 during trading hours on Monday, hitting $5.78. 160,949 shares of the company were exchanged, compared to its average volume of 178,607. The firm's 50 day moving average is $5.89 and its 200-day moving average is $6.09. BNY Mellon Strategic Municipals has a 52 week low of $5.55 and a 52 week high of $6.64.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.023 per share. This represents a $0.28 annualized dividend and a yield of 4.78%. The ex-dividend date is Thursday, June 12th. This is an increase from BNY Mellon Strategic Municipals's previous monthly dividend of $0.02.

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.