BNY Mellon Strategic Municipals (NYSE:LEO) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.37 and traded as low as $6.36. BNY Mellon Strategic Municipals shares last traded at $6.4050, with a volume of 309,065 shares changing hands.

BNY Mellon Strategic Municipals Stock Performance

The stock’s fifty day moving average is $6.39 and its two-hundred day moving average is $6.37.

BNY Mellon Strategic Municipals (NYSE:LEO) last announced its quarterly earnings results on Friday, May 29th. The investment management company reported $0.08 EPS for the quarter. The firm had revenue of $7.57 million during the quarter.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a yield of 5.6%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. grew its holdings in shares of BNY Mellon Strategic Municipals by 110.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,683,135 shares of the investment management company’s stock worth $10,873,000 after purchasing an additional 884,861 shares in the last quarter. Bulldog Investors LLP raised its stake in BNY Mellon Strategic Municipals by 104.2% in the fourth quarter. Bulldog Investors LLP now owns 1,480,512 shares of the investment management company’s stock valued at $9,416,000 after purchasing an additional 755,380 shares in the last quarter. Pathstone Holdings LLC lifted its position in BNY Mellon Strategic Municipals by 23.2% during the third quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company’s stock valued at $23,998,000 after purchasing an additional 723,676 shares during the last quarter. Guggenheim Capital LLC lifted its position in BNY Mellon Strategic Municipals by 60.3% during the fourth quarter. Guggenheim Capital LLC now owns 1,545,694 shares of the investment management company’s stock valued at $9,831,000 after purchasing an additional 581,458 shares during the last quarter. Finally, Saba Capital Management L.P. grew its stake in BNY Mellon Strategic Municipals by 6.6% in the 4th quarter. Saba Capital Management L.P. now owns 6,076,820 shares of the investment management company’s stock worth $38,649,000 after buying an additional 378,001 shares in the last quarter.

BNY Mellon Strategic Municipals Company Profile

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.