Sit Investment Associates Inc. Purchases 288,207 Shares of BNY Mellon Strategic Municipals, Inc. $LEO

Sit Investment Associates Inc. grew its position in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) by 35.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,104,133 shares of the investment management company’s stock after acquiring an additional 288,207 shares during the period. Sit Investment Associates Inc.’s holdings in BNY Mellon Strategic Municipals were worth $7,022,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LEO. Invesco Ltd. boosted its stake in BNY Mellon Strategic Municipals by 86.8% in the fourth quarter. Invesco Ltd. now owns 188,345 shares of the investment management company’s stock worth $1,198,000 after buying an additional 87,538 shares in the last quarter. Saba Capital Management L.P. grew its position in BNY Mellon Strategic Municipals by 6.6% during the fourth quarter. Saba Capital Management L.P. now owns 6,076,820 shares of the investment management company’s stock valued at $38,649,000 after acquiring an additional 378,001 shares during the last quarter. Rivernorth Capital Management LLC raised its stake in shares of BNY Mellon Strategic Municipals by 5.8% during the fourth quarter. Rivernorth Capital Management LLC now owns 2,195,115 shares of the investment management company’s stock worth $13,961,000 after acquiring an additional 119,962 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter worth approximately $96,000. Finally, Guggenheim Capital LLC lifted its holdings in shares of BNY Mellon Strategic Municipals by 60.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,545,694 shares of the investment management company’s stock worth $9,831,000 after acquiring an additional 581,458 shares during the last quarter.

BNY Mellon Strategic Municipals Stock Down 0.6%

Shares of BNY Mellon Strategic Municipals stock opened at $6.37 on Friday. BNY Mellon Strategic Municipals, Inc. has a 52-week low of $5.71 and a 52-week high of $6.55. The company has a fifty day moving average of $6.37 and a 200-day moving average of $6.36.

BNY Mellon Strategic Municipals (NYSE:LEO) last released its earnings results on Friday, May 29th. The investment management company reported $0.08 EPS for the quarter. The business had revenue of $7.57 million for the quarter.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be issued a $0.03 dividend. This is an increase from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Thursday, June 11th.

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.