MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 9,360 shares, a decrease of 52.9% from the December 15th total of 19,882 shares. Based on an average trading volume of 170,056 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 170,056 shares, the days-to-cover ratio is presently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of NYSE:MMD remained flat at $15.22 on Friday. The company’s stock had a trading volume of 129,164 shares, compared to its average volume of 76,569. The company has a fifty day moving average of $14.97 and a 200-day moving average of $14.92. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.00 and a 12 month high of $15.86.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $0.065 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, March 16th.

Insider Activity

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager Robert A. Dimella sold 11,965 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $14.84, for a total value of $177,560.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 12.0% during the first quarter. Royal Bank of Canada now owns 162,191 shares of the closed-end fund’s stock valued at $2,446,000 after acquiring an additional 17,390 shares during the period. AQR Capital Management LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter valued at approximately $606,000. Park Avenue Securities LLC boosted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 18.6% during the 2nd quarter. Park Avenue Securities LLC now owns 104,127 shares of the closed-end fund’s stock valued at $1,540,000 after purchasing an additional 16,341 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 2nd quarter valued at approximately $222,000. Finally, Ackerman Capital Advisors LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.5% during the second quarter. Ackerman Capital Advisors LLC now owns 34,945 shares of the closed-end fund’s stock worth $517,000 after buying an additional 3,328 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

The MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end, diversified management investment company that seeks to provide a high level of tax-exempt income. The fund primarily invests in investment-grade municipal securities, including general obligation bonds, revenue bonds and other state and local government obligations. By focusing on tax-exempt instruments, MMD aims to enhance after-tax yields for its shareholders, making it an option for investors in higher tax brackets who seek municipal bond exposure through a publicly traded vehicle.

As a defined-term fund, MMD was structured with a predetermined termination date at which point the portfolio is expected to be liquidated and proceeds returned to investors.