MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 41.3% in June

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 20,832 shares, a decline of 41.3% from the May 31st total of 35,487 shares. Based on an average trading volume of 50,466 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% during the 1st quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock worth $1,444,000 after buying an additional 1,281 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 70.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 68,560 shares of the closed-end fund’s stock valued at $1,018,000 after acquiring an additional 28,321 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 56.6% in the 1st quarter. Bank of New York Mellon Corp now owns 37,249 shares of the closed-end fund’s stock valued at $553,000 after acquiring an additional 13,468 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter worth about $54,000. Finally, Kestra Advisory Services LLC raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 138.0% during the 1st quarter. Kestra Advisory Services LLC now owns 15,422 shares of the closed-end fund’s stock worth $229,000 after acquiring an additional 8,941 shares in the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.1%

NYSE MMD traded down $0.01 on Wednesday, hitting $15.49. 68,457 shares of the stock were exchanged, compared to its average volume of 59,782. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.39 and a fifty-two week high of $15.82. The company has a 50-day moving average price of $15.23 and a 200-day moving average price of $15.21.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0675 per share. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.