LEO
BNY Mellon Strategic Municipals, Inc.Financial Services·Asset Management
$6.43
$401M market cap
Revenue
$11.7M
Free Cash Flow
$3.4M
Rev Growth
+0.0%
FCF Margin
28.8%
P/FCF
119.4x
EV/FCF
160.9x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
BNY Mellon Strategic Municipals, 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 investment grade municipal bonds, the income from which is exempt from federal income tax. It employs fundamental analysis to create its portfolio. The fund was formerly known as Dreyfus Strategic Municipals, Inc. BNY Mellon Strategic Municipals, Inc. was formed on Se
2-Year Price History
$6.29+13.3%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2025-Q4 | 11.7 | 11.3 | 11.3 | 7.4 | 3.4 | 3.4 | -0.0 | 0.1 | 139.0 | 62.3 | 8.2% | 2.9x | -- |
Valuation & Metrics
Market Stats
Price$6.43
Market Cap$401M
Enterprise Value$539M
P/S Ratio34.4x
P/FCF119.4x
EV/FCF160.9x
FCF Margin (TTM)28.8%
FCF Yield0.8%
Dividend Yield (TTM)4.8%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$11.7M
Net Income$7.4M
Free Cash Flow$3.4M
Revenue Growth (YoY)+0.0%
EBITDA Margin96.8%
Net Margin63.8%
FCF Margin28.8%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC8.2%
WC Change % Rev0.0%
Interest Coverage2.9x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.1M
Days to Cover1.0
Change (vs Prior)-15.8%
Need at least 2 settlement dates for chart
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
46.4%(+9.4% YoY)
92 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(+0.0% YoY)
0 filers
Vanguard, iShares, SPDR
Market makers
0.3%(-0.0% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Saba Capital Management, L.P. | $38.2M | $5.68 | +$0 | +$6.1M | -4.4% | $3.09B |
| Pathstone Holdings, LLC | $23.5M | $5.82 | −$262K | +$8.6M | -0.8% | $25.10B |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | $12.5M | $5.29 | −$1.3M | −$1.9M | -13.8% | $1.98B |
| SIT INVESTMENT ASSOCIATES INC | $12.1M | $6.08 | +$5.1M | +$8.7M | -0.5% | $4.93B |
| Bulldog Investors, LLC | $9.9M | $5.99 | +$597K | +$9.9M | -0.9% | $445M |
| GUGGENHEIM CAPITAL LLC | $8.1M | $5.93 | −$1.6M | +$3.2M | -0.2% | $12.48B |
| Advisors Asset Management, Inc. | $7.2M | $5.96 | +$976K | +$5.1M | -0.4% | $6.01B |
| WELLS FARGO & COMPANY/MN | $6.3M | $5.42 | +$290K | −$3.4M | -0.2% | $497.71B |
| ROBINSON CAPITAL MANAGEMENT, LLC | $5.5M | $5.74 | +$188K | +$5.5M | +5.6% | $223M |
| Hennion & Walsh Asset Management, Inc. | $5.0M | $5.48 | +$2.5M | −$4.0M | -1.2% | $2.97B |
| VAN ECK ASSOCIATES CORP | $3.6M | $5.58 | +$425K | +$966K | +0.8% | $133.17B |
| Allspring Global Investments Holdings, LLC | $3.3M | $6.11 | +$252K | +$3.3M | -0.7% | $59.61B |
| Altium Capital Management LP | $2.8M | $6.22 | +$1.1M | +$2.8M | -21.8% | $42.0M |
| CAPSTONE INVESTMENT ADVISORS, LLC | $2.4M | $5.70 | +$0 | +$0 | +0.1% | $9.00B |
| Capital Investment Advisors, LLC | $2.4M | $5.50 | −$61K | −$495K | +0.0% | $6.82B |
| RIVERBRIDGE PARTNERS LLC | $2.3M | $6.03 | +$227K | +$910K | -2.0% | $4.09B |
| Gridiron Partners, LLC | $2.1M | $5.32 | −$430K | −$396K | -0.3% | $163M |
| WHITEBOX ADVISORS LLC | $1.9M | $5.78 | +$0 | +$240K | +0.6% | $1.77B |
| COHEN & STEERS INC | $1.9M | $5.75 | −$156K | −$94K | -0.8% | $57.57B |
| MORGAN STANLEY | $1.8M | $5.58 | −$1.8M | −$1.5M | -0.3% | $1.65T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-2.36%
avg per quarter
Holders (ex-self)
-2.34%
excl. this stock
Buyers (this Q)
-2.25%
19 buyers · $0.01B in
Sellers (this Q)
-1.51%
31 sellers · $0.01B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-4.2%
how holders react when this stock falls
On quiet Qs
+1.8%
−10% to +10% baseline
On rallies (+10%+)
+6.4%
how they react when this stock rises
Holders' portfolio flow this Q
+2.6%
inflows — adds are organic
Sellers' portfolio flow this Q
-0.5%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-0.6%
Holder mid (any stock)
-3.7%
Holder rally (any stock)
-6.4%
Biggest decreases this quarter
MORGAN STANLEY−$1.8Mα-0.3GUGGENHEIM CAPITAL LLC−$1.6Mα-0.2Verition Fund Management LLCexited−$1.4MRIVERNORTH CAPITAL MANAGEMENT, LLC−$1.3Mα-13.8Professional Financial Management, Inc.−$855KMatisse Capitalexited−$750KThomas J. Herzfeld Advisors, Inc.exited−$600KJANE STREET GROUP, LLCexited−$526KGridiron Partners, LLC−$430Kα-0.3Logan Stone Capital, LLCexited−$420K
Top-5 holders · 52.8%
Saba Capital Management, L.P.--
Pathstone Holdings, LLC--
RIVERNORTH CAPITAL MANAGEMENT, LLC--
SIT INVESTMENT ASSOCIATES INC--
Bulldog Investors, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Saba Capital Management, L.P.6.1MPathstone Holdings, LLC3.7MRIVERNORTH CAPITAL MANAGEMENT, LLC2.0MSIT INVESTMENT ASSOCIATES INC1.9MGUGGENHEIM CAPITAL LLC1.3MWELLS FARGO & COMPANY/MN1.0MMORGAN STANLEY279KBulldog Investors, LLC1.6MLogan Stone Capital, LLC—Hennion & Walsh Asset Management, Inc.798K
Corporate
Order Flow (FINRA, ~3w lag)
49.2%retail+6.3pp
11.7%dark-0.4pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.