BNY Mellon Strategic Municipals (NYSE:LEO) Major Shareholder Buys $72,478.08 in Stock

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) major shareholder Saba Capital Management, L.P. acquired 12,583 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $72,478.08. Following the transaction, the insider directly owned 6,559,772 shares of the company’s stock, valued at approximately $37,784,286.72. This trade represents a 0.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, October 23rd, Saba Capital Management, L.P. acquired 65,000 shares of BNY Mellon Strategic Municipals stock. The stock was bought at an average price of $5.68 per share, for a total transaction of $369,200.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 45,831 shares of BNY Mellon Strategic Municipals stock. The stock was bought at an average price of $5.73 per share, with a total value of $262,611.63.
• On Tuesday, October 20th, Saba Capital Management, L.P. bought 7,724 shares of BNY Mellon Strategic Municipals stock. The stock was bought at an average price of $5.72 per share, with a total value of $44,181.28.
• On Monday, October 19th, Saba Capital Management, L.P. bought 15,246 shares of BNY Mellon Strategic Municipals stock. The shares were bought at an average cost of $5.67 per share, with a total value of $86,444.82.
• On Friday, October 16th, Saba Capital Management, L.P. bought 322,858 shares of BNY Mellon Strategic Municipals stock. The shares were bought at an average cost of $5.65 per share, with a total value of $1,824,147.70.

BNY Mellon Strategic Municipals Stock Performance

Shares of NYSE LEO opened at $5.92 on Friday. The stock’s 50-day moving average is $5.81 and its two-hundred day moving average is $6.22. BNY Mellon Strategic Municipals, Inc. has a 1-year low of $5.41 and a 1-year high of $6.55.

BNY Mellon Strategic Municipals Announces Dividend

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. This represents a $0.36 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, October 14th.

Institutional Trading of BNY Mellon Strategic Municipals

Several hedge funds have recently added to or reduced their stakes in LEO. Venture Visionary Partners LLC purchased a new position in BNY Mellon Strategic Municipals in the third quarter worth approximately $81,000. Advisor OS LLC purchased a new stake in shares of BNY Mellon Strategic Municipals in the 2nd quarter valued at approximately $123,000. Corient Private Wealth LP purchased a new stake in shares of BNY Mellon Strategic Municipals in the 2nd quarter valued at approximately $144,000. Landscape Capital Management L.L.C. purchased a new stake in shares of BNY Mellon Strategic Municipals in the 2nd quarter valued at approximately $156,000. Finally, Evolve Private Wealth LLC raised its holdings in shares of BNY Mellon Strategic Municipals by 74.2% in the 1st quarter. Evolve Private Wealth LLC now owns 26,178 shares of the investment management company’s stock valued at $165,000 after purchasing an additional 11,150 shares in 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.