BNY Mellon Strategic Municipals (NYSE:LEO) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO – Get Free Report) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $6.25 and traded as low as $5.42. BNY Mellon Strategic Municipals shares last traded at $5.4650, with a volume of 241,017 shares traded.

BNY Mellon Strategic Municipals Stock Up 0.3%

The firm has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $6.24.

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BNY Mellon Strategic Municipals Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Wednesday, October 14th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its position in 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 valued at $10,873,000 after acquiring an additional 884,861 shares during the period. Almitas Capital LLC purchased a new position in shares of BNY Mellon Strategic Municipals in the 2nd quarter worth about $4,662,000. Capstone Investment Advisors LLC purchased a new position in shares of BNY Mellon Strategic Municipals in the 2nd quarter worth about $2,454,000. Sit Investment Associates Inc. lifted its stake in shares of BNY Mellon Strategic Municipals by 35.3% in the 4th quarter. Sit Investment Associates Inc. now owns 1,104,133 shares of the investment management company’s stock valued at $7,022,000 after purchasing an additional 288,207 shares in the last quarter. Finally, Altium Capital Management LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 67.4% in the 1st quarter. Altium Capital Management LLC now owns 438,676 shares of the investment management company’s stock valued at $2,759,000 after purchasing an additional 176,624 shares in the last quarter.

BNY Mellon Strategic Municipals Company Profile

(Get Free Report)

BNY Mellon Strategic Municipals, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol LEO. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal obligations issued by states, municipalities and other governmental entities.

The fund’s portfolio may include a range of tax-exempt securities, such as general obligation bonds, revenue bonds and other municipal debt instruments. These securities can support public services and infrastructure projects, including education, transportation, utilities and healthcare.

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