PNC Financial Services Group Inc. Buys Shares of 122,951 BNY Mellon Municipal Income, Inc. (NYSE:DMF)

PNC Financial Services Group Inc. purchased a new stake in BNY Mellon Municipal Income, Inc. (NYSE:DMF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 122,951 shares of the company's stock, valued at approximately $873,000. PNC Financial Services Group Inc. owned approximately 0.59% of BNY Mellon Municipal Income at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC lifted its holdings in BNY Mellon Municipal Income by 73.8% during the 3rd quarter. Rivernorth Capital Management LLC now owns 2,137,637 shares of the company's stock worth $15,626,000 after buying an additional 907,457 shares during the last quarter. XTX Topco Ltd lifted 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 purchasing an additional 2,183 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in BNY Mellon Municipal Income by 30.6% in the third quarter. Sanctuary Advisors LLC now owns 43,072 shares of the company's stock worth $314,000 after purchasing an additional 10,089 shares during the period. Dakota Wealth Management increased its stake in BNY Mellon Municipal Income by 11.2% during the fourth quarter. Dakota Wealth Management now owns 100,126 shares of the company's stock valued at $711,000 after purchasing an additional 10,100 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of BNY Mellon Municipal Income by 2.6% during the fourth quarter. Van ECK Associates Corp now owns 123,812 shares of the company's stock worth $879,000 after purchasing an additional 3,102 shares during the period.

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BNY Mellon Municipal Income Price Performance

Shares of NYSE:DMF traded up $0.01 during trading on Friday, reaching $7.33. 10,296 shares of the company's stock traded hands, compared to its average volume of 57,605. BNY Mellon Municipal Income, Inc. has a 12 month low of $6.53 and a 12 month high of $7.52. The company has a 50 day moving average of $7.17 and a 200-day moving average of $7.23.

BNY Mellon Municipal Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.019 per share. This represents a $0.23 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, March 14th.

BNY Mellon Municipal Income 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.