BNY Mellon Strategic Municipals (NYSE:LEO) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• BNY Mellon Strategic Municipals' stock price has surpassed its 200-day moving average, with the current price at $6.28, compared to the moving average of $5.93.
• The company has announced a monthly dividend of $0.023 per share, set to be paid on October 31, with an annualized yield of 4.4%.
• Several institutional investors have increased their stakes in BNY Mellon Strategic Municipals, indicating growing confidence in the stock's potential.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - )'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.93 and traded as high as $6.30. BNY Mellon Strategic Municipals shares last traded at $6.28, with a volume of 116,205 shares.

BNY Mellon Strategic Municipals Trading Up 0.4%

The company has a fifty day moving average of $6.04 and a 200 day moving average of $5.93.

BNY Mellon Strategic Municipals Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.023 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, October 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

A number of institutional investors and hedge funds have recently modified their holdings of LEO. Merit Financial Group LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the 1st quarter valued at $160,000. Farther Finance Advisors LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the 1st quarter valued at $38,000. Riverbridge Partners LLC lifted its position in shares of BNY Mellon Strategic Municipals by 8.7% during the 1st quarter. Riverbridge Partners LLC now owns 213,667 shares of the investment management company's stock valued at $1,308,000 after acquiring an additional 17,152 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of BNY Mellon Strategic Municipals by 76.7% during the 1st quarter. Avior Wealth Management LLC now owns 32,493 shares of the investment management company's stock valued at $199,000 after acquiring an additional 14,104 shares during the last quarter. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of BNY Mellon Strategic Municipals during the 1st quarter valued at $72,000.

About BNY Mellon Strategic Municipals

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.

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