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

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.30 and traded as low as $5.99. BNY Mellon Strategic Municipals shares last traded at $6.01, with a volume of 255,295 shares traded.

BNY Mellon Strategic Municipals Price Performance

The business has a 50-day moving average of $6.31 and a 200 day moving average of $6.30.

BNY Mellon Strategic Municipals Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.019 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, December 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEO. XML Financial LLC bought a new position in shares of BNY Mellon Strategic Municipals during the 3rd quarter worth approximately $67,000. Sanctuary Advisors LLC bought a new stake in BNY Mellon Strategic Municipals during the third quarter worth $85,000. Mercer Global Advisors Inc. ADV purchased a new position in BNY Mellon Strategic Municipals in the second quarter worth $90,000. WMG Financial Advisors LLC purchased a new position in BNY Mellon Strategic Municipals in the second quarter worth $96,000. Finally, Avior Wealth Management LLC grew its stake in BNY Mellon Strategic Municipals by 127.0% in the 3rd quarter. Avior Wealth Management LLC now owns 15,830 shares of the investment management company’s stock valued at $103,000 after purchasing an additional 8,857 shares during the period.

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.