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

Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.30 and traded as low as $6.23. BNY Mellon Strategic Municipals shares last traded at $6.27, with a volume of 295,622 shares trading hands.

BNY Mellon Strategic Municipals Trading Up 0.6 %

The stock’s fifty day moving average price is $6.14 and its 200-day moving average price is $6.30.

BNY Mellon Strategic Municipals Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.019 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEO. XML Financial LLC purchased a new position in BNY Mellon Strategic Municipals during the third quarter valued at approximately $67,000. Walleye Capital LLC purchased a new position in BNY Mellon Strategic Municipals during the fourth quarter valued at approximately $71,000. PNC Financial Services Group Inc. grew its position in BNY Mellon Strategic Municipals by 1,100.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,003 shares of the investment management company’s stock valued at $72,000 after purchasing an additional 11,003 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in BNY Mellon Strategic Municipals during the third quarter valued at approximately $85,000. Finally, Avior Wealth Management LLC grew its position in BNY Mellon Strategic Municipals by 127.0% in the third quarter. Avior Wealth Management LLC now owns 15,830 shares of the investment management company’s stock worth $103,000 after acquiring an additional 8,857 shares in 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.