MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Declares Monthly Dividend of $0.07

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.0675 per share by the closed-end fund on Monday, January 4th. This represents a $0.81 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Tuesday, December 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Up 1.5%

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded up $0.20 during trading hours on Friday, reaching $13.79. The stock had a trading volume of 8,166 shares, compared to its average volume of 62,272. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $13.24 and a twelve month high of $15.82. The stock’s 50 day moving average is $14.64 and its 200 day moving average is $14.99.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the business. Worthington Financial Partners LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $911,000. Hopwood Nicholas Hunter bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter worth about $940,000. Rivernorth Capital Management LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 44.9% in the 2nd quarter. Rivernorth Capital Management LLC now owns 99,375 shares of the closed-end fund’s stock valued at $1,540,000 after purchasing an additional 30,815 shares during the period. Rareview Capital LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 260.5% in the 2nd quarter. Rareview Capital LLC now owns 38,814 shares of the closed-end fund’s stock valued at $574,000 after buying an additional 28,047 shares during the last quarter. Finally, Robinson Capital Management LLC grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% during the second quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock valued at $7,110,000 after purchasing an additional 26,190 shares during the period.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.

The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.