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

Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.35 and traded as low as $6.17. BNY Mellon Strategic Municipals shares last traded at $6.1850, with a volume of 124,761 shares trading hands.

BNY Mellon Strategic Municipals Price Performance

The firm’s fifty day simple moving average is $6.31 and its 200 day simple moving average is $6.35.

BNY Mellon Strategic Municipals (NYSE:LEO) last issued its quarterly earnings data 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 Monday, August 31st. Shareholders of record on Thursday, August 13th will be given a $0.03 dividend. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date is Thursday, August 13th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Several institutional investors have recently made changes to their positions in LEO. Capital Analysts LLC acquired a new position in BNY Mellon Strategic Municipals in the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC acquired a new position in shares of BNY Mellon Strategic Municipals in the 4th quarter valued at $29,000. LPL Financial LLC grew its holdings in shares of BNY Mellon Strategic Municipals by 3.2% during the 4th quarter. LPL Financial LLC now owns 168,318 shares of the investment management company’s stock worth $1,071,000 after purchasing an additional 5,229 shares during the period. Corient Private Wealth LLC grew its holdings in shares of BNY Mellon Strategic Municipals by 5.8% during the 2nd quarter. Corient Private Wealth LLC now owns 118,305 shares of the investment management company’s stock worth $700,000 after purchasing an additional 6,499 shares during the period. Finally, Bank of America Corp DE increased its position in shares of BNY Mellon Strategic Municipals by 4.5% during the 2nd quarter. Bank of America Corp DE now owns 204,596 shares of the investment management company’s stock worth $1,211,000 after purchasing an additional 8,810 shares during the last quarter.

About BNY Mellon Strategic Municipals

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.