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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.37 and traded as low as $6.36. BNY Mellon Strategic Municipals shares last traded at $6.4050, with a volume of 309,065 shares traded.

BNY Mellon Strategic Municipals Price Performance

The firm’s 50-day moving average is $6.39 and its 200-day moving average is $6.37.

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

BNY Mellon Strategic Municipals Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders 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 5.6%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LEO. Invesco Ltd. purchased a new position in shares of BNY Mellon Strategic Municipals in the second quarter worth $561,000. Whitebox Advisors LLC increased its stake in shares of BNY Mellon Strategic Municipals by 14.3% in the 2nd quarter. Whitebox Advisors LLC now owns 305,421 shares of the investment management company’s stock worth $1,808,000 after acquiring an additional 38,121 shares in the last quarter. Bank of America Corp DE increased its stake in shares of BNY Mellon Strategic Municipals by 4.5% during the second quarter. Bank of America Corp DE now owns 204,596 shares of the investment management company’s stock valued at $1,211,000 after purchasing an additional 8,810 shares in the last quarter. Curi Capital LLC purchased a new position in BNY Mellon Strategic Municipals during the second quarter valued at $740,000. Finally, Corient Private Wealth LLC raised its position in shares of BNY Mellon Strategic Municipals by 5.8% in the 2nd quarter. Corient Private Wealth LLC now owns 118,305 shares of the investment management company’s stock worth $700,000 after purchasing an additional 6,499 shares during the last quarter.

BNY Mellon Strategic Municipals Company Profile

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.