The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. Dreyfus Strategic Muns Incorporated (NYSE:LEO) presently has a stellar rank, in the top 10% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.
But making Dreyfus Strategic Muns Incorporated an even more interesting and timely stock to look at, is the fact that in trading on Friday, shares of LEO entered into oversold territory, changing hands as low as $8.55 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Dreyfus Strategic Muns Incorporated, the RSI reading has hit 27.6 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 54.1. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, LEO's recent annualized dividend of 0.588/share (currently paid in monthly installments) works out to an annual yield of 6.64% based upon the recent $8.85 share price.
A bullish investor could look at LEO's 27.6 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on LEO is its dividend history.
In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
LEO Dividend History
Date
Div*
03/12/12
0.049
02/09/12
0.049
01/11/12
0.049
12/12/11
0.049
11/09/11
0.049
10/14/11
0.049
09/14/11
0.049
08/10/11
0.049
07/14/11
0.049
06/13/11
0.049
05/11/11
0.049
04/13/11
0.049
03/10/11
0.049
02/14/11
0.049
01/12/11
0.049
12/08/10
0.049
11/12/10
0.049
10/13/10
0.049
09/13/10
0.049
08/10/10
0.049
07/12/10
0.049
06/09/10
0.049
05/12/10
0.049
04/13/10
0.049
03/09/10
0.049
02/10/10
0.049
01/13/10
0.049
12/01/09
0.049
10/14/09
0.042
09/10/09
0.042
08/11/09
0.042
07/13/09
0.042
06/09/09
0.042
05/11/09
0.042
04/13/09
0.042
03/10/09
0.042
02/11/09
0.042
01/13/09
0.042
12/10/08
0.042
11/14/08
0.042
10/09/08
0.042
09/10/08
0.042
08/11/08
0.042
07/10/08
0.042
06/10/08
0.042
05/09/08
0.042
04/09/08
0.042
03/11/08
0.042
02/05/08
0.042
01/10/08
0.042
12/11/07
0.042
11/08/07
0.042
10/09/07
0.042
09/12/07
0.042
08/09/07
0.042
07/11/07
0.042
06/11/07
0.042
05/11/07
0.042
04/12/07
0.042
03/13/07
0.042
02/09/07
0.042
01/11/07
0.042
12/12/06
0.042
11/13/06
0.042
10/12/06
0.042
09/13/06
0.042
08/11/06
0.042
07/12/06
0.042
06/09/06
0.042
05/10/06
0.042
04/10/06
0.042
03/10/06
0.042
02/07/06
0.042
01/12/06
0.046
12/12/05
0.046
11/10/05
0.046
10/12/05
0.046
09/12/05
0.046
08/10/05
0.046
07/12/05
0.046
06/10/05
0.046
05/10/05
0.046
04/11/05
0.046
03/09/05
0.046
02/04/05
0.046
01/11/05
0.051
12/10/04
0.051
11/09/04
0.051
10/08/04
0.051
09/09/04
0.051
08/11/04
0.051
07/12/04
0.051
06/10/04
0.051
05/12/04
0.051
04/13/04
0.051
03/10/04
0.051
02/10/04
0.051
01/12/04
0.060
12/09/03
0.060
11/10/03
0.060
10/10/03
0.060
09/11/03
0.060
08/12/03
0.060
07/11/03
0.060
06/11/03
0.060
05/12/03
0.060
04/10/03
0.060
03/12/03
0.060
02/11/03
0.060
01/10/03
0.060
12/11/02
0.060
11/08/02
0.060
10/09/02
0.060
09/11/02
0.060
08/12/02
0.060
07/11/02
0.060
06/11/02
0.060
05/10/02
0.060
04/09/02
0.060
03/12/02
0.051
02/11/02
0.051
01/10/02
0.051
12/11/01
0.051
11/08/01
0.051
10/10/01
0.051
08/10/01
0.051
07/12/01
0.046
06/12/01
0.046
05/10/01
0.046
04/10/01
0.044
03/12/01
0.046
02/09/01
0.046
01/11/01
0.046
12/12/00
0.046
11/10/00
0.046
10/11/00
0.046
09/12/00
0.046
08/09/00
0.046
07/12/00
0.046
06/12/00
0.046
05/10/00
0.046
04/11/00
0.046
03/10/00
0.046
02/08/00
0.046
01/11/00
0.046
12/10/99
0.061
11/09/99
0.046
10/12/99
0.046
09/13/99
0.046
08/11/99
0.046
07/13/99
0.046
06/10/99
0.046
05/04/99
0.046
04/13/99
0.046
03/10/99
0.046
01/28/99
0.046
01/12/99
0.051
12/08/98
0.051
11/10/98
0.051
10/09/98
0.051
09/11/98
0.051
08/12/98
0.051
07/13/98
0.051
06/10/98
0.051
05/11/98
0.051
04/13/98
0.051
03/11/98
0.051
02/11/98
0.051
01/09/98
0.057
12/09/97
0.057
11/07/97
0.057
10/08/97
0.057
09/10/97
0.057
08/11/97
0.057
07/11/97
0.057
06/11/97
0.057
05/12/97
0.057
03/11/97
0.057
02/10/97
0.057
01/10/97
0.057
12/10/96
0.056
11/08/96
0.056
10/09/96
0.056
09/11/96
0.056
08/12/96
0.056
07/11/96
0.056
06/12/96
0.056
05/10/96
0.056
04/09/96
0.056
03/11/96
0.056
02/12/96
0.056
01/10/96
0.056
12/11/95
0.056
11/10/95
0.056
10/10/95
0.056
09/12/95
0.056
08/10/95
0.056
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.
According to the ETF Finder at ETF Channel, LEO makes up 1.01% of the CEF Municipal Income ETF (AMEX:XMPT) which is trading lower by about 3% on the day Friday.
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