MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 43,200 shares, an increase of 32.1% from the March 31st total of 32,700 shares. Based on an average daily trading volume, of 39,700 shares, the days-to-cover ratio is currently 1.1 days.

In other news, Director Yie-Hsin Hung acquired 11,600 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The stock was acquired at an average cost of $21.30 per share, for a total transaction of $247,080.00. Following the completion of the acquisition, the director now owns 11,600 shares in the company, valued at $247,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of hedge funds have recently bought and sold shares of MMD. Syverson Strege & Co bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $52,000. US Bancorp DE bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at approximately $65,000. International Assets Investment Management LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $116,000. JPMorgan Chase & Co. bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $123,000. Finally, Steward Partners Investment Advisory LLC grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 18,600 shares of the closed-end fund’s stock valued at $405,000 after purchasing an additional 1,400 shares in the last quarter.

MMD stock traded up $0.11 during mid-day trading on Tuesday, reaching $22.35. The company had a trading volume of 100 shares, compared to its average volume of 37,948. The stock has a 50 day simple moving average of $21.97 and a two-hundred day simple moving average of $21.65. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52 week low of $19.14 and a 52 week high of $22.65.

The business also recently declared a monthly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.02 dividend on an annualized basis and a yield of 4.56%.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.

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