BNY Mellon Strategic Municipals (NYSE:LEO) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.30 and traded as low as $5.99. BNY Mellon Strategic Municipals shares last traded at $6.01, with a volume of 111,942 shares.

BNY Mellon Strategic Municipals Price Performance

The business’s 50-day simple moving average is $6.21 and its two-hundred day simple moving average is $6.30.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.019 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Wednesday, January 15th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC boosted its stake in BNY Mellon Strategic Municipals by 9.3% during the 3rd quarter. HighTower Advisors LLC now owns 61,693 shares of the investment management company’s stock valued at $398,000 after acquiring an additional 5,240 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of BNY Mellon Strategic Municipals during the third quarter worth about $85,000. Almitas Capital LLC acquired a new position in BNY Mellon Strategic Municipals in the second quarter worth about $351,000. Rivernorth Capital Management LLC grew its stake in BNY Mellon Strategic Municipals by 18.8% in the third quarter. Rivernorth Capital Management LLC now owns 2,278,868 shares of the investment management company’s stock worth $14,835,000 after purchasing an additional 360,045 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in BNY Mellon Strategic Municipals by 14.5% in the third quarter. Capital Investment Advisors LLC now owns 468,729 shares of the investment management company’s stock valued at $3,051,000 after buying an additional 59,316 shares during the last quarter.

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.