BNY Mellon Strategic Municipals (NYSE:LEO) Shares Pass Above 200-Day Moving Average – Should You Sell?

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.23 and traded as high as $6.34. BNY Mellon Strategic Municipals shares last traded at $6.33, with a volume of 145,781 shares changing hands.

BNY Mellon Strategic Municipals Trading Up 1.1 %

The company has a fifty day simple moving average of $6.43 and a 200-day simple moving average of $6.24.

BNY Mellon Strategic Municipals Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.019 per share. This represents a $0.23 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Friday, November 15th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rothschild Investment LLC bought a new position in BNY Mellon Strategic Municipals in the 2nd quarter worth approximately $245,000. Kingswood Wealth Advisors LLC bought a new position in shares of BNY Mellon Strategic Municipals during the second quarter worth $156,000. Blue Bell Private Wealth Management LLC grew its stake in BNY Mellon Strategic Municipals by 228.2% during the second quarter. Blue Bell Private Wealth Management LLC now owns 56,455 shares of the investment management company’s stock valued at $346,000 after acquiring an additional 39,255 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in BNY Mellon Strategic Municipals by 8.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,465,468 shares of the investment management company’s stock valued at $8,969,000 after acquiring an additional 110,623 shares during the last quarter. Finally, Almitas Capital LLC purchased a new stake in BNY Mellon Strategic Municipals in the 2nd quarter worth $351,000.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds, the income from which is exempt from federal income tax.