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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.32 and traded as low as $6.04. BNY Mellon Strategic Municipals shares last traded at $6.0450, with a volume of 116,582 shares trading hands.

BNY Mellon Strategic Municipals Price Performance

The stock has a 50-day moving average price of $6.24 and a 200-day moving average price of $6.32.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) annualized dividend and a yield of 6.1%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEO. Capital Analysts LLC bought a new position in shares of BNY Mellon Strategic Municipals in the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the 4th quarter worth about $29,000. Evolve Private Wealth LLC acquired a new position in BNY Mellon Strategic Municipals in the 4th quarter valued at about $96,000. Summit Financial LLC acquired a new position in BNY Mellon Strategic Municipals in the 4th quarter valued at about $113,000. Finally, Nomura Holdings Inc. bought a new position in BNY Mellon Strategic Municipals in the 2nd quarter valued at about $118,000.

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.