Cornerstone Advisory LLC Acquires 849,430 Shares of Dreyfus Strategic Muni. (LEO)

Cornerstone Advisory LLC boosted its position in shares of Dreyfus Strategic Muni. (NYSE:LEO) by 215.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,244,437 shares of the investment management company’s stock after buying an additional 849,430 shares during the period. Dreyfus Strategic Muni. makes up approximately 2.8% of Cornerstone Advisory LLC’s investment portfolio, making the stock its 9th largest position. Cornerstone Advisory LLC’s holdings in Dreyfus Strategic Muni. were worth $9,333,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in Dreyfus Strategic Muni. during the first quarter worth about $111,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Dreyfus Strategic Muni. during the second quarter worth about $139,000. Cambridge Investment Research Advisors Inc. grew its stake in Dreyfus Strategic Muni. by 124.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 37,553 shares of the investment management company’s stock worth $288,000 after buying an additional 20,793 shares in the last quarter. City of London Investment Management Co. Ltd. acquired a new stake in Dreyfus Strategic Muni. during the third quarter worth about $679,000. Finally, Bank of America Corp DE grew its stake in Dreyfus Strategic Muni. by 24.4% during the second quarter. Bank of America Corp DE now owns 111,384 shares of the investment management company’s stock worth $854,000 after buying an additional 21,857 shares in the last quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

Shares of Dreyfus Strategic Muni. stock opened at $7.12 on Monday. Dreyfus Strategic Muni. has a 12-month low of $7.01 and a 12-month high of $8.83.

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.42 dividend on an annualized basis and a yield of 5.90%.

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About Dreyfus Strategic Muni.

There is no company description available for Dreyfus Strategic Municipals Inc.

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Institutional Ownership by Quarter for Dreyfus Strategic Muni. (NYSE:LEO)

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