BNY Mellon Strategic Municipals (NYSE:LEO) Stock Crosses Below 200 Day Moving Average – What’s Next?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.38 and traded as low as $6.37. BNY Mellon Strategic Municipals shares last traded at $6.3750, with a volume of 119,142 shares changing hands.

BNY Mellon Strategic Municipals Stock Performance

The company has a 50 day moving average price of $6.39 and a two-hundred day moving average price of $6.38.

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

BNY Mellon Strategic Municipals Dividend Announcement

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

Institutional Trading of BNY Mellon Strategic Municipals

A number of institutional investors and hedge funds have recently modified their holdings of LEO. Altium Capital Management LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 67.4% during the first quarter. Altium Capital Management LLC now owns 438,676 shares of the investment management company’s stock valued at $2,759,000 after acquiring an additional 176,624 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of BNY Mellon Strategic Municipals by 47.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 487,296 shares of the investment management company’s stock valued at $3,099,000 after acquiring an additional 156,969 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new stake in shares of BNY Mellon Strategic Municipals in the fourth quarter worth approximately $672,000. Petersen Hastings Wealth Advisors Inc. acquired a new stake in shares of BNY Mellon Strategic Municipals in the fourth quarter worth approximately $513,000. Finally, Sit Investment Associates Inc. boosted its stake in shares of BNY Mellon Strategic Municipals by 35.3% in the fourth quarter. Sit Investment Associates Inc. now owns 1,104,133 shares of the investment management company’s stock worth $7,022,000 after acquiring an additional 288,207 shares during 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.