BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) major shareholder Saba Capital Management, L.P. bought 45,831 shares of the firm's stock in a transaction that occurred on Wednesday, October 21st. The shares were acquired at an average cost of $5.73 per share, for a total transaction of $262,611.63. Following the purchase, the insider directly owned 6,482,189 shares in the company, valued at $37,142,942.97. This trade represents a 0.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more 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 Tuesday, October 20th, Saba Capital Management, L.P. purchased 7,724 shares of BNY Mellon Strategic Municipals stock. The stock was bought at an average price of $5.72 per share, for a total transaction of $44,181.28.
- On Monday, October 19th, Saba Capital Management, L.P. bought 15,246 shares of BNY Mellon Strategic Municipals stock. The stock was purchased at an average price of $5.67 per share, for a total transaction of $86,444.82.
- On Friday, October 16th, Saba Capital Management, L.P. purchased 322,858 shares of BNY Mellon Strategic Municipals stock. The shares were purchased at an average price of $5.65 per share, with a total value of $1,824,147.70.
BNY Mellon Strategic Municipals Stock Performance
NYSE LEO opened at $5.71 on Friday. BNY Mellon Strategic Municipals, Inc. has a 1-year low of $5.41 and a 1-year high of $6.55. The business has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $6.17.
BNY Mellon Strategic Municipals Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, October 14th.
Institutional Investors Weigh In On BNY Mellon Strategic Municipals
Several large investors have recently bought and sold shares of LEO. Integrated Capital Management Inc. lifted its position in BNY Mellon Strategic Municipals by 14.9% during the third quarter. Integrated Capital Management Inc. now owns 39,810 shares of the investment management company's stock valued at $221,000 after purchasing an additional 5,172 shares during the last quarter. Venture Visionary Partners LLC purchased a new position in shares of BNY Mellon Strategic Municipals in the 3rd quarter worth $81,000. Noble Wealth Management PBC grew its stake in shares of BNY Mellon Strategic Municipals by 16.6% in the 3rd quarter. Noble Wealth Management PBC now owns 26,756 shares of the investment management company's stock worth $149,000 after buying an additional 3,800 shares in the last quarter. Readystate Asset Management LP bought a new stake in shares of BNY Mellon Strategic Municipals in the 2nd quarter worth about $460,000. Finally, Rivernorth Capital Management LLC increased its holdings in shares of BNY Mellon Strategic Municipals by 1.1% in the 2nd quarter. Rivernorth Capital Management LLC now owns 2,006,388 shares of the investment management company's stock worth $12,961,000 after buying an additional 21,196 shares during the last quarter.
BNY Mellon Strategic Municipals Company Profile
(
Get Free Report)
BNY Mellon Strategic Municipals, Inc (NYSE: LEO) is a closed-end management investment company that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities, and other public authorities.
Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities. By investing in debt issued across the United States, the fund provides exposure to the municipal bond market rather than operating a conventional commercial business or selling products and services directly to consumers.
BNY Mellon Investment Adviser, Inc, an affiliate of The Bank of New York Mellon Corporation, serves as the fund's investment adviser.
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