BNY Mellon Municipal Income (NYSE:DMF) Shares Down 0.3% - Here's Why

BNY Mellon Municipal Income, Inc. (NYSE:DMF - Get Free Report) shares were down 0.3% during mid-day trading on Friday . The stock traded as low as $7.14 and last traded at $7.14. Approximately 42,291 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 37,576 shares. The stock had previously closed at $7.16.

BNY Mellon Municipal Income Price Performance

The company's 50-day moving average is $7.12 and its 200-day moving average is $7.24.

BNY Mellon Municipal Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.019 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 3.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new stake in BNY Mellon Municipal Income during the fourth quarter worth approximately $89,000. XTX Topco Ltd grew its stake in BNY Mellon Municipal Income by 21.5% during the third quarter. XTX Topco Ltd now owns 12,328 shares of the company's stock worth $90,000 after buying an additional 2,183 shares during the period. Sanctuary Advisors LLC grew its stake in BNY Mellon Municipal Income by 30.6% during the third quarter. Sanctuary Advisors LLC now owns 43,072 shares of the company's stock worth $314,000 after buying an additional 10,089 shares during the period. Dakota Wealth Management grew its stake in BNY Mellon Municipal Income by 18.4% during the third quarter. Dakota Wealth Management now owns 90,026 shares of the company's stock worth $658,000 after buying an additional 14,000 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in BNY Mellon Municipal Income by 19.3% during the fourth quarter. Bank of New York Mellon Corp now owns 103,872 shares of the company's stock worth $737,000 after buying an additional 16,799 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.