Karpus Management Inc. Lowers Stock Holdings in BNY Mellon Municipal Income, Inc. (NYSE:DMF)

Karpus Management Inc. decreased its holdings in BNY Mellon Municipal Income, Inc. (NYSE:DMFFree Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 565,360 shares of the company’s stock after selling 6,693 shares during the quarter. Karpus Management Inc.’s holdings in BNY Mellon Municipal Income were worth $3,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DMF. Blue Bell Private Wealth Management LLC acquired a new position in BNY Mellon Municipal Income in the fourth quarter valued at $34,000. Wolverine Asset Management LLC increased its position in BNY Mellon Municipal Income by 503.0% during the 4th quarter. Wolverine Asset Management LLC now owns 18,151 shares of the company’s stock worth $118,000 after purchasing an additional 15,141 shares in the last quarter. Fort Point Capital Partners LLC raised its holdings in BNY Mellon Municipal Income by 117.6% in the third quarter. Fort Point Capital Partners LLC now owns 41,235 shares of the company’s stock valued at $234,000 after buying an additional 22,287 shares during the period. Van ECK Associates Corp increased its position in shares of BNY Mellon Municipal Income by 13.7% in the fourth quarter. Van ECK Associates Corp now owns 157,398 shares of the company’s stock worth $1,023,000 after acquiring an additional 18,905 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its stake in shares of BNY Mellon Municipal Income by 2.4% in the 4th quarter. Capital Investment Advisors LLC now owns 165,100 shares of the company’s stock valued at $1,073,000 after acquiring an additional 3,810 shares during the period.

BNY Mellon Municipal Income Trading Up 0.1 %

Shares of NYSE DMF opened at $6.89 on Friday. The stock has a fifty day moving average price of $6.74 and a 200 day moving average price of $6.61. BNY Mellon Municipal Income, Inc. has a 12-month low of $5.37 and a 12-month high of $6.92.

BNY Mellon Municipal Income Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.019 per share. This is an increase from BNY Mellon Municipal Income’s previous monthly dividend of $0.02. This represents a $0.23 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, June 14th.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. acquired 20,410 shares of the stock in a transaction on Tuesday, March 19th. The stock was bought at an average price of $6.75 per share, with a total value of $137,767.50. Following the completion of the transaction, the insider now directly owns 2,377,018 shares of the company’s stock, valued at $16,044,871.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

About BNY Mellon Municipal Income

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding DMF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BNY Mellon Municipal Income, Inc. (NYSE:DMFFree Report).

Institutional Ownership by Quarter for BNY Mellon Municipal Income (NYSE:DMF)

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