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BNY Mellon Strategic Municipals (NYSE:LEO) Shares Cross Below 200-Day Moving Average - Here's What Happened

BNY Mellon Strategic Municipals logo with Finance background

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.01 and traded as low as $5.90. BNY Mellon Strategic Municipals shares last traded at $5.90, with a volume of 110,614 shares traded.

BNY Mellon Strategic Municipals Price Performance

The stock has a 50-day moving average price of $5.85 and a two-hundred day moving average price of $6.01.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be given a $0.023 dividend. The ex-dividend date is Monday, July 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.68%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Saba Capital Management L.P. lifted its stake in shares of BNY Mellon Strategic Municipals by 11.2% during the fourth quarter. Saba Capital Management L.P. now owns 4,932,793 shares of the investment management company's stock worth $29,794,000 after buying an additional 496,846 shares during the period. Pathstone Holdings LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 34.8% during the fourth quarter. Pathstone Holdings LLC now owns 1,488,106 shares of the investment management company's stock worth $8,993,000 after buying an additional 384,579 shares during the period. Wells Fargo & Company MN lifted its stake in shares of BNY Mellon Strategic Municipals by 4.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,465,414 shares of the investment management company's stock worth $8,851,000 after buying an additional 64,526 shares during the period. Logan Stone Capital LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 0.6% during the fourth quarter. Logan Stone Capital LLC now owns 1,244,554 shares of the investment management company's stock worth $7,517,000 after buying an additional 7,130 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of BNY Mellon Strategic Municipals by 3.4% during the fourth quarter. Guggenheim Capital LLC now owns 821,060 shares of the investment management company's stock worth $4,959,000 after buying an additional 27,217 shares during the period.

BNY Mellon Strategic Municipals Company Profile

(Get Free Report)

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.

Further Reading

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