BNY Mellon Strategic Municipals (NYSE:LEO) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.28 and traded as low as $6.11. BNY Mellon Strategic Municipals shares last traded at $6.14, with a volume of 112,907 shares.

BNY Mellon Strategic Municipals Stock Up 1.1 %

The stock’s fifty day moving average price is $6.19 and its 200 day moving average price is $6.28.

BNY Mellon Strategic Municipals Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.019 per share. This represents a $0.23 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Institutional investors and hedge funds have recently made changes to their positions in the business. Thoma Capital Management LLC bought a new stake in BNY Mellon Strategic Municipals in the 4th quarter worth $980,000. Cornerstone Advisory LLC grew its holdings in BNY Mellon Strategic Municipals by 110.5% in the fourth quarter. Cornerstone Advisory LLC now owns 42,312 shares of the investment management company’s stock worth $264,000 after purchasing an additional 22,210 shares during the period. Saba Capital Management L.P. grew its stake in shares of BNY Mellon Strategic Municipals by 11.2% in the 4th 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 last quarter. Pathstone Holdings LLC increased its holdings 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 valued at $8,993,000 after acquiring an additional 384,579 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in BNY Mellon Strategic Municipals during the 4th quarter valued at about $362,000.

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.