BNY Mellon Strategic Municipals, Inc. (NYSE:LEO – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 15,246 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The stock was purchased at an average price of $5.67 per share, for a total transaction of $86,444.82. Following the acquisition, the insider directly owned 6,428,634 shares of the company’s stock, valued at $36,450,354.78. The trade was a 0.24% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Wednesday, October 21st, Saba Capital Management, L.P. acquired 45,831 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average cost of $5.73 per share, for a total transaction of $262,611.63.
- On Tuesday, October 20th, Saba Capital Management, L.P. acquired 7,724 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average cost of $5.72 per share, for a total transaction of $44,181.28.
- On Friday, October 16th, Saba Capital Management, L.P. bought 322,858 shares of BNY Mellon Strategic Municipals stock. The stock was acquired at an average price of $5.65 per share, with a total value of $1,824,147.70.
BNY Mellon Strategic Municipals Price Performance
LEO stock opened at $5.71 on Friday. BNY Mellon Strategic Municipals, Inc. has a 12 month low of $5.41 and a 12 month high of $6.55. The firm has a 50 day moving average of $5.84 and a two-hundred day moving average of $6.17.
BNY Mellon Strategic Municipals Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, October 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.3%.
Institutional Investors Weigh In On BNY Mellon Strategic Municipals
Several institutional investors and hedge funds have recently modified their holdings of LEO. Integrated Capital Management Inc. increased its position in BNY Mellon Strategic Municipals by 14.9% during the third quarter. Integrated Capital Management Inc. now owns 39,810 shares of the investment management company’s stock worth $221,000 after buying an additional 5,172 shares during the last quarter. Venture Visionary Partners LLC acquired a new position in BNY Mellon Strategic Municipals during the third quarter worth $81,000. Noble Wealth Management PBC raised its holdings in BNY Mellon Strategic Municipals by 16.6% during the third quarter. Noble Wealth Management PBC now owns 26,756 shares of the investment management company’s stock valued at $149,000 after buying an additional 3,800 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of BNY Mellon Strategic Municipals in the second quarter worth about $460,000. Finally, Rivernorth Capital Management LLC lifted its position in shares of BNY Mellon Strategic Municipals by 1.1% in the second quarter. Rivernorth Capital Management LLC now owns 2,006,388 shares of the investment management company’s stock worth $12,961,000 after buying an additional 21,196 shares during the last quarter.
BNY Mellon Strategic Municipals Company Profile
BNY Mellon Strategic Municipals, Inc (NYSE: LEO) is a closed-end management investment company that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities, and other public authorities.
Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities. By investing in debt issued across the United States, the fund provides exposure to the municipal bond market rather than operating a conventional commercial business or selling products and services directly to consumers.
BNY Mellon Investment Adviser, Inc, an affiliate of The Bank of New York Mellon Corporation, serves as the fund’s investment adviser.
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