Saba Capital Management buys $1.9m in BNY Mellon Strategic Municipals

Saba Capital Management, L.P., a prominent shareholder and director of BNY Mellon Strategic Municipals, Inc. (NYSE:LEO), has recently bolstered its investment in the company. The firm executed several stock purchases valued at around $1,911,637 between October 16 and October 19, 2026. This move could be influenced by the stock's attractive 6.35% dividend yield, backed by the company's 40-year streak of annual dividend payments, according to InvestingPro data.

During this period, Saba Capital Management, L.P. acquired 338,104 shares of BNY Mellon Strategic Municipals common stock, paying prices between $5.63 and $5.67 per share. This investment has increased the firm's stake to 6,428,634 shares of BNY Mellon Strategic Municipals common stock, held indirectly through its investment management role. The stock's performance has been positive, surging by 5.14% over the past week, and currently trading at $5.73 with a market capitalization of $357 million.

Boaz R. Weinstein, the managing member of Saba Capital Management GP, LLC, which serves as the general partner of Saba Capital Management, L.P., played a role in this investment decision.