MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Distribute Monthly Dividend of $0.07 on August 3rd

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Wednesday, July 1st. Shareholders of record on Wednesday, July 15th will be paid a dividend of 0.0675 per share by the closed-end fund on Monday, August 3rd. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, July 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.2%

NYSE MMD opened at $15.44 on Friday. The company’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $15.21. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.39 and a 12 month high of $15.82.

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.