BNY Mellon Strategic Municipals (NYSE:LEO) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.38 and traded as low as $6.37. BNY Mellon Strategic Municipals shares last traded at $6.3750, with a volume of 119,142 shares traded.

BNY Mellon Strategic Municipals Stock Performance

The company has a 50-day moving average of $6.38 and a 200-day moving average of $6.38.

BNY Mellon Strategic Municipals (NYSE:LEO) last announced its earnings results on Friday, May 29th. The investment management company reported $0.08 EPS for the quarter. The company had revenue of $7.57 million for the quarter.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a yield of 5.7%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new stake in shares of BNY Mellon Strategic Municipals during the fourth quarter worth about $26,000. Gilpin Wealth Management LLC purchased a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter valued at approximately $29,000. BOKF NA acquired a new stake in BNY Mellon Strategic Municipals during the fourth quarter worth approximately $78,000. Evolve Private Wealth LLC acquired a new stake in BNY Mellon Strategic Municipals during the fourth quarter worth approximately $96,000. Finally, Summit Financial LLC purchased a new stake in BNY Mellon Strategic Municipals in the 4th quarter worth approximately $113,000.

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.