BNY Mellon Strategic Municipals (NYSE:LEO) Share Price Passes Above 50-Day Moving Average – What’s Next?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.40 and traded as high as $6.50. BNY Mellon Strategic Municipals shares last traded at $6.4450, with a volume of 153,052 shares trading hands.

BNY Mellon Strategic Municipals Stock Performance

The company has a 50 day simple moving average of $6.40 and a 200 day simple moving average of $6.25.

BNY Mellon Strategic Municipals Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be given a dividend of $0.026 per share. The ex-dividend date is Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 4.8%. This is a positive change from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02.

Institutional Trading of BNY Mellon Strategic Municipals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipals by 14.7% during the second quarter. Envestnet Asset Management Inc. now owns 222,128 shares of the investment management company’s stock worth $1,315,000 after buying an additional 28,512 shares in the last quarter. Traub Capital Management LLC acquired a new position in BNY Mellon Strategic Municipals in the 2nd quarter worth about $728,000. Advisors Asset Management Inc. increased its holdings in BNY Mellon Strategic Municipals by 50.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 508,074 shares of the investment management company’s stock worth $3,008,000 after purchasing an additional 170,288 shares in the last quarter. Invesco Ltd. bought a new position in BNY Mellon Strategic Municipals in the second quarter valued at about $561,000. Finally, Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of BNY Mellon Strategic Municipals by 23.2% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 87,795 shares of the investment management company’s stock valued at $520,000 after purchasing an additional 16,505 shares in the last quarter.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals (NYSE: LEO) is a closed-end management investment company that seeks to deliver a high level of current income exempt from U.S. federal income tax. The fund primarily allocates its assets to investment-grade municipal securities, including bonds and other debt instruments issued by U.S. states, territories, municipalities and their authorities.

Beyond traditional investment-grade munis, the fund may also invest in below-investment-grade securities, variable‐rate demand obligations, municipal derivatives and other income-producing instruments.