BNY Mellon Strategic Municipals (NYSE:LEO) Major Shareholder Saba Capital Management, L.P. Acquires 15,246 Shares of Stock

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) major shareholder Saba Capital Management, L.P. bought 15,246 shares of BNY Mellon Strategic Municipals stock in a transaction dated Monday, October 19th. The stock was purchased at an average cost of $5.67 per share, for a total transaction of $86,444.82. Following the purchase, the insider owned 6,428,634 shares of the company’s stock, valued at approximately $36,450,354.78. This trade represents a 0.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, October 16th, Saba Capital Management, L.P. bought 322,858 shares of BNY Mellon Strategic Municipals stock. The stock was purchased at an average price of $5.65 per share, with a total value of $1,824,147.70.

BNY Mellon Strategic Municipals Stock Up 0.8%

LEO stock opened at $5.71 on Wednesday. BNY Mellon Strategic Municipals, Inc. has a 12 month low of $5.41 and a 12 month high of $6.55. The company has a 50-day moving average price of $5.86 and a 200 day moving average price of $6.18.

BNY Mellon Strategic Municipals Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be issued a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Wednesday, October 14th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipals

Several hedge funds have recently bought and sold shares of the business. Venture Visionary Partners LLC bought a new stake in shares of BNY Mellon Strategic Municipals during the third quarter worth $81,000. Advisor OS LLC purchased a new stake in shares of BNY Mellon Strategic Municipals in the second quarter valued at approximately $123,000. Corient Private Wealth LP bought a new position in shares of BNY Mellon Strategic Municipals during the 2nd quarter worth $144,000. Landscape Capital Management L.L.C. bought a new stake in shares of BNY Mellon Strategic Municipals in the second quarter valued at about $156,000. Finally, Evolve Private Wealth LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 74.2% in the first quarter. Evolve Private Wealth LLC now owns 26,178 shares of the investment management company’s stock valued at $165,000 after acquiring an additional 11,150 shares in the last quarter.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals, Inc (NYSE: LEO) is a closed-end management investment company that seeks to provide current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities and other governmental entities.

Its portfolio may include a range of tax-exempt securities, such as general obligation bonds, revenue bonds and other municipal debt instruments. These securities can finance public services and infrastructure, including education, transportation, utilities and health care facilities.