MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) To Go Ex-Dividend on March 16th

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Friday, January 2nd. Stockholders of record on Monday, March 16th will be paid a dividend of 0.065 per share by the closed-end fund on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, March 16th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Up 0.1%

Shares of MMD stock opened at $15.22 on Friday. The firm has a fifty day moving average price of $15.40 and a 200 day moving average price of $15.14. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.00 and a 12 month high of $15.82.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 739,494 shares of the closed-end fund’s stock worth $10,996,000 after purchasing an additional 38,972 shares during the last quarter. Raymond James Financial Inc. raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 13.2% during the third quarter. Raymond James Financial Inc. now owns 567,803 shares of the closed-end fund’s stock worth $8,591,000 after purchasing an additional 66,168 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.1% during the 4th quarter. Guggenheim Capital LLC now owns 449,927 shares of the closed-end fund’s stock worth $6,690,000 after buying an additional 29,643 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 326,646 shares of the closed-end fund’s stock valued at $4,831,000 after buying an additional 13,581 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 9.2% in the 4th quarter. Wells Fargo & Company MN now owns 256,146 shares of the closed-end fund’s stock valued at $3,809,000 after buying an additional 21,567 shares during the last quarter.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.