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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.30 and traded as low as $5.99. BNY Mellon Strategic Municipals shares last traded at $6.01, with a volume of 111,942 shares changing hands.

BNY Mellon Strategic Municipals Stock Performance

The business’s 50-day moving average is $6.21 and its two-hundred day moving average is $6.30.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.019 per share. This represents a $0.23 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th.

Institutional Trading of BNY Mellon Strategic Municipals

Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its position in BNY Mellon Strategic Municipals by 9.3% during the 3rd quarter. HighTower Advisors LLC now owns 61,693 shares of the investment management company’s stock valued at $398,000 after purchasing an additional 5,240 shares during the period. Sanctuary Advisors LLC bought a new stake in BNY Mellon Strategic Municipals in the third quarter valued at $85,000. Almitas Capital LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the second quarter valued at $351,000. Rivernorth Capital Management LLC grew its position in shares of BNY Mellon Strategic Municipals by 18.8% during the third quarter. Rivernorth Capital Management LLC now owns 2,278,868 shares of the investment management company’s stock worth $14,835,000 after acquiring an additional 360,045 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in shares of BNY Mellon Strategic Municipals by 14.5% in the 3rd quarter. Capital Investment Advisors LLC now owns 468,729 shares of the investment management company’s stock worth $3,051,000 after acquiring an additional 59,316 shares during the period.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds, the income from which is exempt from federal income tax.