BNY Mellon Strategic Municipals (NYSE:LEO) Major Shareholder Buys 12,583 Shares of Stock

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) major shareholder Saba Capital Management, L.P. acquired 12,583 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were purchased at an average price of $5.76 per share, for a total transaction of $72,478.08. Following the completion of the transaction, the insider directly owned 6,559,772 shares in the company, valued at approximately $37,784,286.72. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, October 23rd, Saba Capital Management, L.P. bought 65,000 shares of BNY Mellon Strategic Municipals stock. The shares were purchased at an average price of $5.68 per share, for a total transaction of $369,200.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 45,831 shares of BNY Mellon Strategic Municipals stock. The shares were purchased at an average price of $5.73 per share, for a total transaction of $262,611.63.
• On Tuesday, October 20th, Saba Capital Management, L.P. bought 7,724 shares of BNY Mellon Strategic Municipals stock. The stock was purchased at an average cost of $5.72 per share, with a total value of $44,181.28.
• On Monday, October 19th, Saba Capital Management, L.P. bought 15,246 shares of BNY Mellon Strategic Municipals stock. The stock was purchased at an average cost of $5.67 per share, with a total value of $86,444.82.
• On Friday, October 16th, Saba Capital Management, L.P. purchased 322,858 shares of BNY Mellon Strategic Municipals stock. The stock was acquired at an average price of $5.65 per share, with a total value of $1,824,147.70.

BNY Mellon Strategic Municipals Price Performance

NYSE:LEO traded up $0.07 on Tuesday, reaching $5.91. 413,403 shares of the company’s stock traded hands, compared to its average volume of 216,006. The stock has a 50-day simple moving average of $5.83 and a 200-day simple moving average of $6.23. BNY Mellon Strategic Municipals, Inc. has a 12 month low of $5.41 and a 12 month high of $6.55.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.1%.

Institutional Trading of BNY Mellon Strategic Municipals

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

About BNY Mellon Strategic Municipals

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

Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities. By investing in debt issued across the United States, the fund provides exposure to the municipal bond market rather than operating a conventional commercial business or selling products and services directly to consumers.

BNY Mellon Investment Adviser, Inc, an affiliate of The Bank of New York Mellon Corporation, serves as the fund’s investment adviser.