LEO 10% Owner Saba Capital Management, L.P. Buys $1.8M of Stock

By TradeTexts Research Desk Oct 20, 2026, 6:02 PM EDT

BNY Mellon Strategic Municipals, Inc. (LEO) business photo

Key Points

Ten-percent owner Saba Capital Management, L.P. bought 322,858 shares of BNY Mellon Strategic Municipals, Inc. on October 16, 2026, growing its holding by 5.3% to 6,413,388 shares.
The fund acquired the shares at a price of $5.65 each, totaling roughly $1.8 million in a transaction made public through a Form 4 filed with the SEC.
The fund trades with a market capitalization of about $356.9 million and an annual dividend rate of $0.36 per share.

Since the trade, $LEO is up 1.4% to date (from the $5.65 close on Oct 16, 2026).

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Ten-percent owner Saba Capital Management, L.P. bought 322,858 shares of BNY Mellon Strategic Municipals, Inc. (NYSE: LEO) on October 16, 2026. The purchase was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission.

LEO BNY Mellon Strategic Municipals, Inc.

$5.73 -6.07% year to date

Daily close · Oct 20, 2026

Inside Saba Capital Management's LEO Trade

Saba Capital Management picked up the shares at a price of $5.65 apiece, bringing the total transaction value to roughly $1,825,180. Following this purchase, the ten-percent owner held 6,413,388 shares of the closed-end fund. This move increased the firm's stake by about 5.3%.

Other Institutional Activity in LEO

Other major funds have also adjusted their positions in the fund based on filings for the period ending June 30, 2026, and September 30, 2026. Pathstone Holdings, LLC reduced its holdings by 256,848 shares, ending with 3,487,291 shares worth about $19.9 million. SIT Investment Associates Inc grew its holdings by 376,483 shares, ending with 2,295,354 shares worth about $13.1 million. RiverNorth Capital Management, LLC grew its holdings by 21,241 shares, ending with 2,006,388 shares worth about $11.4 million. Hennion & Walsh Asset Management, Inc. reduced its holdings by 27,266 shares, ending with 1,655,797 shares worth about $9.4 million.

BNY Mellon Strategic Municipals, Inc. Stock Up 1.1%

Shares recently traded around $5.73 as of October 20, 2026. The stock sits below its 50-day moving average of $5.88 and below its 200-day moving average of $6.25. It trades below its 52-week high of $6.55 and above its 52-week low of $5.41.

Recent Earnings

For its trailing twelve months, the fund reported revenue of $30,120,212 and basic earnings per share of $0.20. It recorded a net profit margin of 42.0% and a return on equity of 3.0%.

Dividend

Dividend investors receive an annual dividend rate of $0.36 per share, giving a dividend yield of 6.35%. The payout ratio sits at 137.0%.

About BNY Mellon Strategic Municipals, Inc.

BNY Mellon Strategic Municipals, Inc. is a closed-end fixed income mutual fund managed by BNY Mellon Investment Adviser, Inc. It focuses on the U.S. fixed income markets, investing primarily in investment-grade municipal bonds whose income is exempt from federal income taxes. The fund relies on fundamental research to build its portfolio.

Bottom Line

Insider transactions by major owners provide visibility into how large stakeholders view a fund relative to its current market price. Observers will continue monitoring future SEC filings to track further portfolio adjustments by Saba Capital Management.