Compare

BNY Mellon Strategic Municipals/$LEO

1D1W1M3M6MYTD1Y5YMAX

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals, Inc. is a diversified closed-end management investment company. The fund's investment objective is to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. Its products are Equity and Fixed Income Mutual Funds, Retail Money Market Funds, Government/Treasury Money Market Funds, Institutional Money Market Funds, and others.
Ticker
$LEO
Sector
Primary listing
NYSE
Employees
-
Headquarters
New York, United States
Website
im.bnymellon.com/us/en/intermediary/products/closed-end-funds.jsp

LEO Metrics

BasicAdvanced
$404M
-
-$0.54
0.58
$0.23
3.51%

Bulls say / Bears say

LEO’s monthly tax-exempt distribution rose to $0.030 in May from $0.026 and was still declared at that level for October. BNY Mellon attributed the increase primarily to higher yields on the fund’s investments, supporting the case that the payout is being helped by portfolio income. (Business Wire, MarketChameleon)
The fund outperformed its benchmark in the second quarter of 2026, helped by its long-duration and 30-year positioning, sector allocation and security selection. That suggests recent portfolio decisions added value beyond simply collecting bond coupons. (BNY Mellon)
LEO was trading at roughly a 7% discount to NAV in late August, meaning investors could buy municipal assets below their reported portfolio value. A later narrowing of that discount would add a potential capital-return component to the tax-exempt income. (AInvest)
LEO uses about 34.2% leverage, while interest expense is around 1.89% and total expenses about 2.76%. Much of the funding is floating-rate, so higher short-term borrowing costs could squeeze the spread supporting the distribution. (AInvest)
Recent outperformance was helped by long duration and 30-year maturities, which also leave NAV vulnerable if municipal yields rise. BNY Mellon describes rate volatility as elevated, so market-price and NAV losses could offset the attractive income. (BNY Mellon)
The 2026 proxy contest shows that governance remains a live risk: Saba put forward a dissident nominee, but shareholders retained the incumbent board after ISS and Glass Lewis found no compelling case for change. Without a board change, investors may have to wait for management actions to address the fund’s discount or performance. (Business Wire)
Data summarised monthly by Lightyear AI. Last updated on 23 Sept 2026.

LEO News

AllArticlesVideos

LEO Pharma presents new tralokinumab data at EADV 2026 highlighting real-world outcomes and quality of life in adults and adolescents with atopic dermatitis (AD) involving high-burden areas

Business Wire2 weeks ago

LEO Pharma Announces FDA Acceptance of Dersimelagon NDA with Priority Review and Closes Acquisition from Tanabe Pharma

Business Wire3 weeks ago

LEO Pharma buys worldwide dersimelagon rights for up to $435 million

Reuters2 months ago
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.