Saba Capital Management L.P. Acquires 496,846 Shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)

Saba Capital Management L.P. increased its holdings in shares of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,932,793 shares of the investment management company’s stock after purchasing an additional 496,846 shares during the period. Saba Capital Management L.P.’s holdings in BNY Mellon Strategic Municipals were worth $29,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter valued at approximately $112,000. Park Avenue Securities LLC boosted its stake in BNY Mellon Strategic Municipals by 4.9% in the fourth quarter. Park Avenue Securities LLC now owns 168,143 shares of the investment management company’s stock valued at $1,016,000 after acquiring an additional 7,899 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in BNY Mellon Strategic Municipals in the fourth quarter valued at approximately $920,000. PNC Financial Services Group Inc. boosted its stake in BNY Mellon Strategic Municipals by 1,100.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,003 shares of the investment management company’s stock valued at $72,000 after acquiring an additional 11,003 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new stake in BNY Mellon Strategic Municipals in the fourth quarter valued at approximately $127,000.

BNY Mellon Strategic Municipals Stock Performance

Shares of LEO opened at $5.91 on Friday. BNY Mellon Strategic Municipals, Inc. has a twelve month low of $5.55 and a twelve month high of $6.64. The company has a 50 day moving average of $5.95 and a two-hundred day moving average of $6.12.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be paid a $0.019 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.23 annualized dividend and a yield of 3.86%.

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.