BNY Mellon Strategic Municipals (NYSE:LEO) Major Shareholder Purchases $44,181.28 in Stock

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) major shareholder Saba Capital Management, L.P. bought 7,724 shares of BNY Mellon Strategic Municipals stock in a transaction on Tuesday, October 20th. The shares were acquired at an average cost of $5.72 per share, with a total value of $44,181.28. Following the completion of the acquisition, the insider owned 6,436,358 shares of the company’s stock, valued at $36,815,967.76. The trade was a 0.12% increase in their position. The purchase was disclosed in a document filed with the SEC, 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 Wednesday, October 21st, Saba Capital Management, L.P. purchased 45,831 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average price of $5.73 per share, for a total transaction of $262,611.63.
• On Monday, October 19th, Saba Capital Management, L.P. purchased 15,246 shares of BNY Mellon Strategic Municipals stock. The shares were acquired 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. acquired 322,858 shares of BNY Mellon Strategic Municipals stock. The stock was bought 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 $5.70 on Friday. BNY Mellon Strategic Municipals, Inc. has a one year low of $5.41 and a one year high of $6.55. The business has a fifty day moving average price of $5.83 and a 200-day moving average price of $6.17.

BNY Mellon Strategic Municipals Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Integrated Capital Management Inc. boosted its position in shares of 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 worth $221,000 after acquiring an additional 5,172 shares during the last quarter. Venture Visionary Partners LLC purchased a new position in BNY Mellon Strategic Municipals during the third quarter valued at $81,000. Noble Wealth Management PBC increased its holdings in 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 valued at $149,000 after acquiring an additional 3,800 shares during the last quarter. Readystate Asset Management LP bought a new stake in BNY Mellon Strategic Municipals in the 2nd quarter valued at $460,000. Finally, Rivernorth Capital Management LLC increased its holdings in 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 valued at $12,961,000 after acquiring an additional 21,196 shares during 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 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.