BNY Mellon Strategic Municipals (NYSE:LEO) Stock Passes Below 200 Day Moving Average – Time to Sell?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

BNY Mellon Strategic Municipals Stock Performance

The business has a 50-day moving average price of $6.39 and a 200-day moving average price of $6.37.

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

BNY Mellon Strategic Municipals Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, July 14th. This represents a c) annualized dividend and a dividend yield of 5.6%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Analysts LLC acquired a new stake in shares of BNY Mellon Strategic Municipals during the fourth quarter worth about $26,000. Gilpin Wealth Management LLC acquired a new position in BNY Mellon Strategic Municipals in the 4th quarter worth approximately $29,000. Fort Point Capital Partners LLC purchased a new position in BNY Mellon Strategic Municipals during the 3rd quarter worth approximately $68,000. BOKF NA purchased a new position in BNY Mellon Strategic Municipals during the 4th quarter worth approximately $78,000. Finally, Evolve Private Wealth LLC acquired a new stake in BNY Mellon Strategic Municipals during the 4th quarter valued at approximately $96,000.

About BNY Mellon Strategic Municipals

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.