BNY Mellon Strategic Municipals, Inc. (NYSE:LEO – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 65,000 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was purchased at an average price of $5.68 per share, with a total value of $369,200.00. Following the acquisition, the insider owned 6,547,189 shares of the company’s stock, valued at approximately $37,188,033.52. This trade represents a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Monday, October 26th, Saba Capital Management, L.P. bought 12,583 shares of BNY Mellon Strategic Municipals stock. The shares were purchased at an average cost of $5.76 per share, with a total value of $72,478.08.
- On Wednesday, October 21st, Saba Capital Management, L.P. purchased 45,831 shares of BNY Mellon Strategic Municipals stock. The stock was acquired at an average cost of $5.73 per share, with a total value of $262,611.63.
- On Tuesday, October 20th, Saba Capital Management, L.P. purchased 7,724 shares of BNY Mellon Strategic Municipals stock. The stock was acquired at an average cost of $5.72 per share, with a total value of $44,181.28.
- On Monday, October 19th, Saba Capital Management, L.P. acquired 15,246 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average price of $5.67 per share, with a total value of $86,444.82.
- On Friday, October 16th, Saba Capital Management, L.P. acquired 322,858 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average price of $5.65 per share, with a total value of $1,824,147.70.
BNY Mellon Strategic Municipals Stock Down 1.4%
Shares of LEO opened at $5.83 on Thursday. The firm’s 50 day moving average is $5.81 and its 200-day moving average is $6.22. BNY Mellon Strategic Municipals, Inc. has a 12-month low of $5.41 and a 12-month high of $6.55.
BNY Mellon Strategic Municipals Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be given a $0.03 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.36 annualized dividend and a yield of 6.2%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Venture Visionary Partners LLC purchased a new stake in shares of BNY Mellon Strategic Municipals during the third quarter valued at $81,000. Advisor OS LLC acquired a new position in shares of BNY Mellon Strategic Municipals in the 2nd quarter valued at $123,000. Corient Private Wealth LP acquired a new position in shares of BNY Mellon Strategic Municipals in the 2nd quarter valued at $144,000. Landscape Capital Management L.L.C. purchased a new position in BNY Mellon Strategic Municipals in the 2nd quarter worth about $156,000. Finally, Evolve Private Wealth LLC increased its stake in BNY Mellon Strategic Municipals by 74.2% in the 1st quarter. Evolve Private Wealth LLC now owns 26,178 shares of the investment management company’s stock worth $165,000 after purchasing an additional 11,150 shares in the last quarter.
About BNY Mellon Strategic Municipals
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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