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

Saba Capital Management, L.P., a significant shareholder and director of BNY MELLON STRATEGIC MUNICIPALS, INC. (NYSE:LEO), has increased its stake in the company through recent stock purchases. The investment firm acquired common stock totaling approximately $1,911,637 across several transactions between October 16 and October 19, 2026. The investment appeal may be tied to LEO’s 6.35% dividend yield, with the company maintaining dividend payments for 40 consecutive years, according to InvestingPro data.

During this period, Saba Capital Management, L.P. purchased a total of 338,104 shares of BNY Mellon Strategic Municipals common stock. The prices paid for these shares ranged from $5.63 to $5.67 per share.

Following these transactions, Saba Capital Management, L.P. beneficially owns 6,428,634 shares of BNY Mellon Strategic Municipals common stock. These securities are held indirectly through funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager. The stock has gained 5.14% over the past week, trading at $5.73 with a market cap of $357 million. Boaz R. Weinstein is noted as the managing member of Saba Capital Management GP, LLC, which is the general partner of Saba Capital Management, L.P.