BNY Mellon Strategic Municipals (NYSE:LEO) Shares Cross Below 200 Day Moving Average – Here’s Why

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s stock price passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $6.20 and traded as low as $5.50. BNY Mellon Strategic Municipals shares last traded at $5.5050, with a volume of 150,104 shares trading hands.

BNY Mellon Strategic Municipals Price Performance

The company’s 50 day moving average is $5.92 and its 200 day moving average is $6.20.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Wednesday, October 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Altium Capital Management LLC grew its stake in BNY Mellon Strategic Municipals by 67.4% in the first quarter. Altium Capital Management LLC now owns 438,676 shares of the investment management company’s stock valued at $2,759,000 after acquiring an additional 176,624 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of BNY Mellon Strategic Municipals by 110.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,683,135 shares of the investment management company’s stock valued at $10,873,000 after acquiring an additional 884,861 shares in the last quarter. Almitas Capital LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the second quarter valued at approximately $4,662,000. Capstone Investment Advisors LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the second quarter worth approximately $2,454,000. Finally, Centaurus Financial Inc. acquired a new position in shares of BNY Mellon Strategic Municipals during the second quarter worth approximately $591,000.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc (NYSE: LEO) is a closed-end management investment company that seeks to provide current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities and other governmental entities.

Its portfolio may include a range of tax-exempt securities, such as general obligation bonds, revenue bonds and other municipal debt instruments. These securities can finance public services and infrastructure, including education, transportation, utilities and health care facilities.