BNY Mellon Strategic Municipals (NYSE:LEO) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.35 and traded as low as $6.33. BNY Mellon Strategic Municipals shares last traded at $6.3850, with a volume of 287,174 shares traded.

BNY Mellon Strategic Municipals Trading Down 0.2%

The business has a 50-day moving average price of $6.34 and a 200-day moving average price of $6.35.

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

BNY Mellon Strategic Municipals Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.03 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from BNY Mellon Strategic Municipals’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in shares of BNY Mellon Strategic Municipals by 1.4% during the third quarter. Envestnet Asset Management Inc. now owns 225,241 shares of the investment management company’s stock valued at $1,408,000 after buying an additional 3,113 shares in the last quarter. Capital Analysts LLC purchased a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in shares of BNY Mellon Strategic Municipals during the fourth quarter valued at $29,000. LPL Financial LLC grew its holdings in shares of BNY Mellon Strategic Municipals by 3.2% during the fourth quarter. LPL Financial LLC now owns 168,318 shares of the investment management company’s stock valued at $1,071,000 after buying an additional 5,229 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of BNY Mellon Strategic Municipals by 5.8% during the second quarter. Corient Private Wealth LLC now owns 118,305 shares of the investment management company’s stock valued at $700,000 after buying an additional 6,499 shares in the last quarter.

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.