BNY Mellon Strategic Municipals (NYSE:LEO) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

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 $6.28 and traded as low as $6.11. BNY Mellon Strategic Municipals shares last traded at $6.14, with a volume of 112,907 shares trading hands.

BNY Mellon Strategic Municipals Price Performance

The stock has a 50-day moving average of $6.19 and a 200-day moving average of $6.28.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.019 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, March 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the 4th quarter worth approximately $71,000. PNC Financial Services Group Inc. increased its position in shares of BNY Mellon Strategic Municipals by 1,100.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,003 shares of the investment management company’s stock worth $72,000 after purchasing an additional 11,003 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the 3rd quarter worth approximately $85,000. Avior Wealth Management LLC increased its position in shares of BNY Mellon Strategic Municipals by 127.0% during the 3rd quarter. Avior Wealth Management LLC now owns 15,830 shares of the investment management company’s stock worth $103,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of BNY Mellon Strategic Municipals during the 4th quarter worth approximately $112,000.

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.