BNY Mellon Strategic Municipals (NYSE:LEO) Share Price Crosses Above 200-Day Moving Average – What’s Next?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.34 and traded as high as $6.48. BNY Mellon Strategic Municipals shares last traded at $6.4350, with a volume of 199,940 shares changing hands.

BNY Mellon Strategic Municipals Stock Up 0.9%

The business’s 50 day moving average is $6.33 and its two-hundred day moving average is $6.34.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be paid a $0.026 dividend. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, May 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bulldog Investors LLP grew its position in shares of BNY Mellon Strategic Municipals by 6.5% during the 1st quarter. Bulldog Investors LLP now owns 1,576,371 shares of the investment management company’s stock valued at $9,915,000 after purchasing an additional 95,859 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of BNY Mellon Strategic Municipals by 8.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 527,746 shares of the investment management company’s stock valued at $3,320,000 after purchasing an additional 40,450 shares in the last quarter. Altium Capital Management LLC grew its position in shares of BNY Mellon Strategic Municipals by 67.4% during 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. Riverbridge Partners LLC grew its position in shares of BNY Mellon Strategic Municipals by 11.3% during the 1st quarter. Riverbridge Partners LLC now owns 358,313 shares of the investment management company’s stock valued at $2,254,000 after purchasing an additional 36,496 shares in the last quarter. Finally, Evolve Private Wealth LLC grew its position in shares of BNY Mellon Strategic Municipals by 74.2% during the 1st quarter. Evolve Private Wealth LLC now owns 26,178 shares of the investment management company’s stock valued at $165,000 after purchasing an additional 11,150 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.