Advisors Asset Management Inc. Purchases 186,196 Shares of BNY Mellon Strategic Municipals, Inc. $LEO

Advisors Asset Management Inc. raised its holdings in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) by 36.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 694,270 shares of the investment management company’s stock after buying an additional 186,196 shares during the period. Advisors Asset Management Inc. owned about 1.09% of BNY Mellon Strategic Municipals worth $4,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEO. Gridiron Partners LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 394.1% during the 3rd quarter. Gridiron Partners LLC now owns 1,994,982 shares of the investment management company’s stock worth $125,000 after acquiring an additional 1,591,208 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the third quarter worth $2,065,000. Whitebox Advisors LLC boosted its stake in shares of BNY Mellon Strategic Municipals by 14.3% during the second quarter. Whitebox Advisors LLC now owns 305,421 shares of the investment management company’s stock valued at $1,808,000 after purchasing an additional 38,121 shares during the period. Riverbridge Partners LLC boosted its stake in shares of BNY Mellon Strategic Municipals by 2.9% during the third quarter. Riverbridge Partners LLC now owns 229,251 shares of the investment management company’s stock valued at $1,433,000 after purchasing an additional 6,524 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of BNY Mellon Strategic Municipals by 1.4% in the third quarter. Envestnet Asset Management Inc. now owns 225,241 shares of the investment management company’s stock worth $1,408,000 after purchasing an additional 3,113 shares during the last quarter.

BNY Mellon Strategic Municipals Stock Down 0.1%

LEO stock opened at $6.49 on Friday. BNY Mellon Strategic Municipals, Inc. has a 12 month low of $5.55 and a 12 month high of $6.54. The firm’s 50-day moving average is $6.38 and its 200 day moving average is $6.22.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be paid a dividend of $0.026 per share. This is a boost from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, February 12th.

BNY Mellon Strategic Municipals Company Profile

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.