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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

BNY Mellon Strategic Municipals Stock Up 0.6 %

The firm has a fifty day moving average of $6.19 and a 200-day moving average of $6.28.

BNY Mellon Strategic Municipals Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.019 dividend. This represents a $0.23 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thoma Capital Management LLC bought a new position in BNY Mellon Strategic Municipals during the fourth quarter worth about $980,000. Cornerstone Advisory LLC boosted its holdings in BNY Mellon Strategic Municipals by 110.5% during the fourth quarter. Cornerstone Advisory LLC now owns 42,312 shares of the investment management company’s stock worth $264,000 after buying an additional 22,210 shares during the last quarter. Saba Capital Management L.P. boosted its holdings in 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 last quarter. Pathstone Holdings LLC boosted its holdings in 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 last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of 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.