MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.89 and traded as low as $14.06. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $14.15, with a volume of 114,293 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 1.3%

The stock has a fifty day simple moving average of $14.83 and a 200-day simple moving average of $15.06.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.0675 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.8%.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently bought and sold shares of the stock. Kelleher Financial Advisors grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% in the 2nd quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock worth $29,000 after purchasing an additional 920 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter valued at about $54,000. Pasadena Private Wealth LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at about $149,000. Financially in Tune LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth about $155,000. Finally, Rareview Capital LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth about $159,000.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.