MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Short Interest Down 75.6% in July

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 21,539 shares, a decline of 75.6% from the July 15th total of 88,176 shares. Based on an average daily volume of 130,088 shares, the days-to-cover ratio is presently 0.2 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 0.7%

Shares of MainStay CBRE Global Infrastructure Megatrends Term Fund stock traded up $0.11 on Friday, hitting $15.28. 86,399 shares of the company’s stock traded hands, compared to its average volume of 166,225. The company has a fifty day moving average of $15.24 and a two-hundred day moving average of $15.08. MainStay CBRE Global Infrastructure Megatrends Term Fund has a one year low of $13.42 and a one year high of $15.89.

MainStay CBRE Global Infrastructure Megatrends Term Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.125 dividend. This represents a c) annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

Several institutional investors have recently made changes to their positions in the stock. Focus Financial Network Inc. grew its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 9.3% in the 2nd quarter. Focus Financial Network Inc. now owns 28,863 shares of the company’s stock valued at $439,000 after buying an additional 2,459 shares during the period. Kestra Advisory Services LLC acquired a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the 1st quarter worth approximately $226,000. FCA Corp TX raised its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 6.9% during the 1st quarter. FCA Corp TX now owns 99,337 shares of the company’s stock worth $1,459,000 after buying an additional 6,444 shares during the period. Independent Financial Group LLC bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the first quarter worth approximately $577,000. Finally, Quantedge Capital Pte Ltd acquired a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund in the first quarter valued at approximately $272,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) is a closed-end term fund that seeks to deliver total return through a combination of income and capital appreciation by investing primarily in global infrastructure securities. The fund targets companies involved in the development, ownership, or operation of transportation networks, energy and utility systems, digital infrastructure and related megatrends. By focusing on essential assets that underpin long-term economic growth, MEGI aims to generate a stable income stream while capturing opportunities for capital gains.

Launched in 2021, MEGI employs a thematic investment approach managed by CBRE Clarion Securities’ dedicated infrastructure equity team.