Cambridge Investment Research Advisors Inc. Lowers Position in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)

Cambridge Investment Research Advisors Inc. cut its holdings in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,310 shares of the investment management company’s stock after selling 2,041 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.06% of BNY Mellon Strategic Municipals worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of BNY Mellon Strategic Municipals by 3.3% during the 2nd quarter. Morgan Stanley now owns 826,154 shares of the investment management company’s stock worth $7,411,000 after purchasing an additional 26,090 shares during the period. Van ECK Associates Corp grew its holdings in shares of BNY Mellon Strategic Municipals by 8.0% during the 2nd quarter. Van ECK Associates Corp now owns 235,129 shares of the investment management company’s stock worth $2,109,000 after purchasing an additional 17,490 shares during the period. Baird Financial Group Inc. grew its holdings in shares of BNY Mellon Strategic Municipals by 5.4% during the 2nd quarter. Baird Financial Group Inc. now owns 173,026 shares of the investment management company’s stock worth $1,552,000 after purchasing an additional 8,874 shares during the period. Invesco Ltd. grew its holdings in shares of BNY Mellon Strategic Municipals by 27.4% during the 2nd quarter. Invesco Ltd. now owns 166,661 shares of the investment management company’s stock worth $1,495,000 after purchasing an additional 35,876 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of BNY Mellon Strategic Municipals by 11.6% during the 2nd quarter. Wells Fargo & Company MN now owns 154,395 shares of the investment management company’s stock worth $1,385,000 after purchasing an additional 16,075 shares during the period. Institutional investors and hedge funds own 11.61% of the company’s stock.

LEO opened at $8.17 on Friday. The stock’s 50-day moving average price is $8.40 and its 200 day moving average price is $8.80. BNY Mellon Strategic Municipals, Inc. has a 12-month low of $8.11 and a 12-month high of $9.50.

The company also recently announced a monthly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, January 14th will be paid a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, January 13th.

BNY Mellon Strategic Municipals Profile

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.

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Institutional Ownership by Quarter for BNY Mellon Strategic Municipals (NYSE:LEO)

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