Capital Investment Advisors LLC Lowers Position in BNY Mellon Municipal Income, Inc. (NYSE:DMF)

Capital Investment Advisors LLC trimmed its holdings in BNY Mellon Municipal Income, Inc. (NYSE:DMF) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,675 shares of the company’s stock after selling 11,500 shares during the period. Capital Investment Advisors LLC owned about 0.69% of BNY Mellon Municipal Income worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in DMF. Sit Investment Associates Inc. lifted its position in shares of BNY Mellon Municipal Income by 33.0% in the fourth quarter. Sit Investment Associates Inc. now owns 3,000,682 shares of the company’s stock valued at $21,305,000 after acquiring an additional 744,486 shares in the last quarter. Bulldog Investors LLP lifted its position in shares of BNY Mellon Municipal Income by 64.4% in the fourth quarter. Bulldog Investors LLP now owns 1,588,137 shares of the company’s stock valued at $11,298,000 after acquiring an additional 622,204 shares in the last quarter. Lido Advisors LLC purchased a new position in shares of BNY Mellon Municipal Income in the fourth quarter valued at about $1,353,000. PNC Financial Services Group Inc. purchased a new position in shares of BNY Mellon Municipal Income in the fourth quarter valued at about $873,000. Finally, Bank of New York Mellon Corp lifted its position in shares of BNY Mellon Municipal Income by 19.3% in the fourth quarter. Bank of New York Mellon Corp now owns 103,872 shares of the company’s stock valued at $737,000 after acquiring an additional 16,799 shares in the last quarter.

BNY Mellon Municipal Income Stock Down 0.7%

Shares of DMF stock opened at $6.92 on Tuesday. BNY Mellon Municipal Income, Inc. has a 12-month low of $6.72 and a 12-month high of $7.52. The stock’s 50-day moving average price is $6.97 and its 200-day moving average price is $7.12.

BNY Mellon Municipal Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.078 dividend. This represents a $0.94 annualized dividend and a dividend yield of 13.53%. This is a boost from BNY Mellon Municipal Income’s previous monthly dividend of $0.02. The ex-dividend date is Monday, June 9th.

BNY Mellon Municipal Income Company Profile

BNY Mellon Municipal Income, 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 municipal obligations that are rated investment grade and have maturities of less than one year.