BNY Mellon Strategic Municipals (NYSE:LEO) Major Shareholder Saba Capital Management, L.P. Buys 322,858 Shares of Stock

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) major shareholder Saba Capital Management, L.P. purchased 322,858 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The stock was bought at an average cost of $5.65 per share, with a total value of $1,824,147.70. Following the purchase, the insider owned 6,413,388 shares of the company’s stock, valued at $36,235,642.20. This represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, October 19th, Saba Capital Management, L.P. acquired 15,246 shares of BNY Mellon Strategic Municipals stock. The shares were purchased at an average cost of $5.67 per share, with a total value of $86,444.82.

BNY Mellon Strategic Municipals Trading Up 0.8%

Shares of BNY Mellon Strategic Municipals stock opened at $5.71 on Wednesday. BNY Mellon Strategic Municipals, Inc. has a 12-month low of $5.41 and a 12-month high of $6.55. The firm’s 50-day moving average price is $5.86 and its two-hundred day moving average price is $6.18.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a $0.03 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.36 annualized dividend and a dividend yield of 6.3%.

Institutional Trading of BNY Mellon Strategic Municipals

Several large investors have recently made changes to their positions in the company. Venture Visionary Partners LLC acquired a new position in BNY Mellon Strategic Municipals during the third quarter worth about $81,000. Advisor OS LLC bought a new position in shares of BNY Mellon Strategic Municipals in the second quarter worth about $123,000. Corient Private Wealth LP bought a new position in shares of BNY Mellon Strategic Municipals in the second quarter worth about $144,000. Noble Wealth Management PBC lifted its holdings in shares of BNY Mellon Strategic Municipals by 16.6% in the third quarter. Noble Wealth Management PBC now owns 26,756 shares of the investment management company’s stock worth $149,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of BNY Mellon Strategic Municipals in the 2nd quarter valued at approximately $156,000.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc (NYSE: LEO) is a closed-end management investment company that seeks to provide current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities and other governmental entities.

Its portfolio may include a range of tax-exempt securities, such as general obligation bonds, revenue bonds and other municipal debt instruments. These securities can finance public services and infrastructure, including education, transportation, utilities and health care facilities.