Capital Investment Advisors LLC Has $2.80 Million Holdings in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)

Capital Investment Advisors LLC cut its position in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 457,960 shares of the investment management company’s stock after selling 13,401 shares during the period. Capital Investment Advisors LLC’s holdings in BNY Mellon Strategic Municipals were worth $2,803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LEO. Saba Capital Management L.P. boosted its position in BNY Mellon Strategic Municipals by 11.2% in the fourth quarter. Saba Capital Management L.P. now owns 4,932,793 shares of the investment management company’s stock valued at $29,794,000 after buying an additional 496,846 shares in the last quarter. Pathstone Holdings LLC boosted its position in BNY Mellon Strategic Municipals by 34.8% in the fourth quarter. Pathstone Holdings LLC now owns 1,488,106 shares of the investment management company’s stock valued at $8,993,000 after buying an additional 384,579 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in BNY Mellon Strategic Municipals in the fourth quarter valued at about $1,736,000. Thoma Capital Management LLC acquired a new position in BNY Mellon Strategic Municipals in the fourth quarter valued at about $980,000. Finally, Raymond James Financial Inc. acquired a new position in BNY Mellon Strategic Municipals in the fourth quarter valued at about $920,000.

BNY Mellon Strategic Municipals Stock Performance

NYSE:LEO opened at $5.81 on Monday. BNY Mellon Strategic Municipals, Inc. has a 12 month low of $5.55 and a 12 month high of $6.64. The company’s 50-day moving average price is $5.85 and its two-hundred day moving average price is $6.07.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 12th will be paid a $0.023 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This is an increase from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.75%.

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.