BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 15,246 shares of the company's stock in a transaction dated Monday, October 19th. The shares were acquired at an average price of $5.67 per share, for a total transaction of $86,444.82. Following the completion of the purchase, the insider owned 6,428,634 shares of the company's stock, valued at approximately $36,450,354.78. This represents a 0.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares 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. acquired 322,858 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average cost of $5.65 per share, for a total transaction of $1,824,147.70.
BNY Mellon Strategic Municipals Price Performance
Shares of NYSE:LEO opened at $5.71 on Wednesday. BNY Mellon Strategic Municipals, Inc. has a 52 week low of $5.41 and a 52 week high of $6.55. The firm has a 50 day moving average of $5.86 and a 200 day moving average of $6.18.
BNY Mellon Strategic Municipals Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be given a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, October 14th.
Institutional Investors Weigh In On BNY Mellon Strategic Municipals
Hedge funds have recently made changes to their positions in the stock. Rivernorth Capital Management LLC boosted its position in BNY Mellon Strategic Municipals by 1.1% during the second quarter. Rivernorth Capital Management LLC now owns 2,006,388 shares of the investment management company's stock valued at $12,961,000 after purchasing an additional 21,196 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in BNY Mellon Strategic Municipals by 110.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,683,135 shares of the investment management company's stock valued at $10,873,000 after purchasing an additional 884,861 shares during the last quarter. Bulldog Investors LLP raised its holdings in BNY Mellon Strategic Municipals by 6.5% in the first quarter. Bulldog Investors LLP now owns 1,576,371 shares of the investment management company's stock worth $9,915,000 after purchasing an additional 95,859 shares in the last quarter. Almitas Capital LLC bought a new position in BNY Mellon Strategic Municipals in the second quarter worth about $4,662,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of BNY Mellon Strategic Municipals by 8.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 527,746 shares of the investment management company's stock valued at $3,320,000 after buying an additional 40,450 shares during the last quarter.
About BNY Mellon Strategic Municipals
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
