BNY Mellon Strategic Municipals (NYSE:LEO) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.40 and traded as high as $6.50. BNY Mellon Strategic Municipals shares last traded at $6.4450, with a volume of 153,052 shares traded.

BNY Mellon Strategic Municipals Trading Down 0.4%

The stock has a fifty day moving average price of $6.40 and a two-hundred day moving average price of $6.25.

BNY Mellon Strategic Municipals Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 4.8%. This is an increase from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.02.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds and other institutional investors have recently made changes to their positions in LEO. CWM LLC boosted its stake in shares of BNY Mellon Strategic Municipals by 72.7% in the third quarter. CWM LLC now owns 6,305 shares of the investment management company’s stock valued at $39,000 after buying an additional 2,654 shares during the period. Envestnet Asset Management Inc. raised its holdings in BNY Mellon Strategic Municipals by 1.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 225,241 shares of the investment management company’s stock valued at $1,408,000 after acquiring an additional 3,113 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of BNY Mellon Strategic Municipals by 3.2% during the 2nd quarter. Centaurus Financial Inc. now owns 111,251 shares of the investment management company’s stock valued at $659,000 after acquiring an additional 3,490 shares during the period. Capital Analysts LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the 4th quarter valued at $26,000. Finally, Gilpin Wealth Management LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the 4th quarter worth $29,000.

About BNY Mellon Strategic Municipals

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.