BNY Mellon Strategic Municipals (NYSE:LEO) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Price technical: LEO crossed above its 200‑day moving average of $6.34, trading as high as $6.48 and last at $6.4350 on about 199,940 shares, signaling a short‑term technical uptick.
• Dividend announced: The fund declared a $0.026 monthly dividend payable May 29 to holders of record May 13, implying roughly a 4.8% annualized yield.
• Institutional buying: Multiple hedge funds materially increased their stakes (Bulldog, Pathstone, Guggenheim, Saba) and Allspring opened a new position, indicating growing institutional interest.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.34 and traded as high as $6.48. BNY Mellon Strategic Municipals shares last traded at $6.4350, with a volume of 199,940 shares trading hands.

BNY Mellon Strategic Municipals Stock Down 0.1%

The firm has a 50 day moving average price of $6.33 and a 200-day moving average price of $6.34.

BNY Mellon Strategic Municipals Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be paid a $0.026 dividend. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, May 13th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Several hedge funds and other institutional investors have recently made changes to their positions in LEO. Bulldog Investors LLP boosted its stake in shares of BNY Mellon Strategic Municipals by 104.2% in the 4th quarter. Bulldog Investors LLP now owns 1,480,512 shares of the investment management company's stock valued at $9,416,000 after buying an additional 755,380 shares during the period. Pathstone Holdings LLC boosted its stake in shares of BNY Mellon Strategic Municipals by 23.2% in the 3rd quarter. Pathstone Holdings LLC now owns 3,839,659 shares of the investment management company's stock valued at $23,998,000 after buying an additional 723,676 shares during the period. Guggenheim Capital LLC boosted its stake in shares of BNY Mellon Strategic Municipals by 60.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,545,694 shares of the investment management company's stock valued at $9,831,000 after buying an additional 581,458 shares during the period. Saba Capital Management L.P. boosted its stake in shares of BNY Mellon Strategic Municipals by 6.6% in the 4th quarter. Saba Capital Management L.P. now owns 6,076,820 shares of the investment management company's stock valued at $38,649,000 after buying an additional 378,001 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of BNY Mellon Strategic Municipals in the 3rd quarter valued at about $2,065,000.

BNY Mellon Strategic Municipals Company Profile

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.

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