BNY Mellon Municipal Income, Inc. (DMF) to Issue Monthly Dividend of $0.02 on April 30th

BNY Mellon Municipal Income, Inc. (NYSE:DMF) announced a monthly dividend on Wednesday, March 27th, Wall Street Journal reports. Investors of record on Friday, April 12th will be paid a dividend of 0.015 per share on Tuesday, April 30th. This represents a $0.18 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, April 11th.

BNY Mellon Municipal Income Stock Performance

Shares of NYSE:DMF opened at $6.72 on Tuesday. BNY Mellon Municipal Income has a 1 year low of $5.37 and a 1 year high of $6.83. The firm has a fifty day moving average price of $6.68 and a 200 day moving average price of $6.30.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. purchased 6,200 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was bought at an average cost of $6.61 per share, for a total transaction of $40,982.00. Following the completion of the acquisition, the insider now directly owns 2,281,857 shares of the company’s stock, valued at $15,083,074.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders acquired 120,806 shares of company stock worth $796,091. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On BNY Mellon Municipal Income

A number of hedge funds have recently bought and sold shares of DMF. Pathstone Holdings LLC acquired a new position in shares of BNY Mellon Municipal Income during the fourth quarter valued at about $3,832,000. Rivernorth Capital Management LLC raised its position in shares of BNY Mellon Municipal Income by 95.5% during the first quarter. Rivernorth Capital Management LLC now owns 537,617 shares of the company’s stock valued at $3,994,000 after buying an additional 262,642 shares during the last quarter. Morgan Stanley raised its position in shares of BNY Mellon Municipal Income by 32.1% during the fourth quarter. Morgan Stanley now owns 503,163 shares of the company’s stock valued at $3,150,000 after buying an additional 122,219 shares during the last quarter. Robinson Capital Management LLC raised its position in shares of BNY Mellon Municipal Income by 127.7% during the first quarter. Robinson Capital Management LLC now owns 356,514 shares of the company’s stock valued at $2,669,000 after buying an additional 199,956 shares during the last quarter. Finally, Logan Stone Capital LLC raised its position in shares of BNY Mellon Municipal Income by 153.1% during the fourth quarter. Logan Stone Capital LLC now owns 284,537 shares of the company’s stock valued at $1,781,000 after buying an additional 172,129 shares during the last quarter.

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.