BNY Mellon Strategic Municipals (NYSE:LEO) Stock: Insider Saba Capital Management, L.P. Purchases 322,858 Shares

by · The Markets Daily

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO – Get Free Report) major shareholder Saba Capital Management, L.P. bought 322,858 shares of the company’s stock in a transaction on Friday, October 16th. The stock was purchased at an average cost of $5.65 per share, for a total transaction of $1,824,147.70. Following the completion of the transaction, the insider directly owned 6,413,388 shares of the company’s stock, valued at approximately $36,235,642.20. The trade was a 5.30% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Tuesday, October 20th, Saba Capital Management, L.P. acquired 7,724 shares of BNY Mellon Strategic Municipals stock. The shares were acquired at an average cost of $5.72 per share, with a total value of $44,181.28.
  • On Monday, October 19th, Saba Capital Management, L.P. acquired 15,246 shares of BNY Mellon Strategic Municipals stock. The shares were bought at an average price of $5.67 per share, with a total value of $86,444.82.

BNY Mellon Strategic Municipals Stock Performance

Shares of LEO stock opened at $5.67 on Thursday. BNY Mellon Strategic Municipals, Inc. has a one year low of $5.41 and a one year high of $6.55. The company’s fifty day moving average price is $5.85 and its 200-day moving average price is $6.17.

BNY Mellon Strategic Municipals Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Wednesday, October 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

Institutional investors and hedge funds have recently bought and sold shares of the business. Venture Visionary Partners LLC bought a new position in shares of BNY Mellon Strategic Municipals in the third quarter worth about $81,000. Advisor OS LLC bought a new stake in BNY Mellon Strategic Municipals during the 2nd quarter valued at approximately $123,000. Corient Private Wealth LP bought a new stake in BNY Mellon Strategic Municipals during the 2nd quarter valued at approximately $144,000. Landscape Capital Management L.L.C. purchased a new position in BNY Mellon Strategic Municipals in the 2nd quarter worth approximately $156,000. Finally, Evolve Private Wealth LLC lifted its holdings in 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 worth $165,000 after purchasing an additional 11,150 shares in 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 current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal obligations issued by states, municipalities and other governmental entities.

Its portfolio may include a range of tax-exempt securities, such as general obligation bonds, revenue bonds and other municipal debt instruments. These securities can finance public services and infrastructure, including education, transportation, utilities and health care facilities.

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