BNY Mellon Municipal Income, Inc. (NYSE:DMF) Shares Purchased by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC grew its stake in shares of BNY Mellon Municipal Income, Inc. (NYSE:DMF - Free Report) by 73.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,137,637 shares of the company's stock after buying an additional 907,457 shares during the period. Rivernorth Capital Management LLC owned 10.30% of BNY Mellon Municipal Income worth $15,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of BNY Mellon Municipal Income during the second quarter valued at approximately $73,000. Sanctuary Advisors LLC bought a new stake in BNY Mellon Municipal Income in the second quarter worth $219,000. Bank of New York Mellon Corp bought a new stake in BNY Mellon Municipal Income in the second quarter worth $373,000. Dakota Wealth Management increased its position in BNY Mellon Municipal Income by 18.4% in the third quarter. Dakota Wealth Management now owns 90,026 shares of the company's stock worth $658,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in BNY Mellon Municipal Income in the second quarter worth $766,000.

Insider Buying and Selling at BNY Mellon Municipal Income

In other news, major shareholder Saba Capital Management, L.P. sold 220,866 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $7.36, for a total transaction of $1,625,573.76. Following the completion of the sale, the insider now directly owns 2,156,152 shares of the company's stock, valued at approximately $15,869,278.72. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

BNY Mellon Municipal Income Trading Down 0.1 %

DMF traded down $0.01 during trading hours on Thursday, hitting $7.47. The company's stock had a trading volume of 5,241 shares, compared to its average volume of 60,417. The business's 50-day moving average price is $7.27 and its 200-day moving average price is $7.21. BNY Mellon Municipal Income, Inc. has a 12 month low of $6.35 and a 12 month high of $7.51.

BNY Mellon Municipal Income Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.019 per share. This represents a $0.23 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, December 13th.

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.