MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Plans Monthly Dividend of $0.07

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Wednesday, April 1st. Investors of record on Friday, May 15th will be paid a dividend of 0.0675 per share by the closed-end fund on Monday, June 1st. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, May 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.4%

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.06 during trading on Wednesday, reaching $15.24. The stock had a trading volume of 2,066 shares, compared to its average volume of 62,536. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $14.36 and a 52-week high of $15.82. The business has a 50 day moving average price of $15.10 and a 200 day moving average price of $15.14.

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.