MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) shares dropped 0.2% during trading on Monday. The stock traded as low as $14.24 and last traded at $14.26. 107,954 shares were traded during mid-day trading, an increase of 63% from the average daily volume of 66,237 shares. The stock had previously closed at $14.29.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance
The firm has a 50-day moving average of $14.08 and a 200 day moving average of $14.93.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be paid a $0.0675 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.81 annualized dividend and a dividend yield of 5.7%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Robinson Capital Management LLC lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% in the second quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock worth $7,110,000 after purchasing an additional 26,190 shares during the period. City of London Investment Management Co. Ltd. increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.6% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 194,245 shares of the closed-end fund’s stock valued at $2,644,000 after buying an additional 106,978 shares during the period. Noble Wealth Management PBC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.9% during the 2nd quarter. Noble Wealth Management PBC now owns 124,708 shares of the closed-end fund’s stock valued at $1,933,000 after buying an additional 4,708 shares during the period. NewEdge Advisors LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.6% during the 2nd quarter. NewEdge Advisors LLC now owns 103,674 shares of the closed-end fund’s stock valued at $1,607,000 after buying an additional 6,454 shares during the period. Finally, Kestra Advisory Services LLC raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 118,017 shares of the closed-end fund’s stock worth $1,606,000 after buying an additional 5,838 shares in the last quarter.
About MainStay MacKay DefinedTerm Municipal Opportunities Fund
MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities.
The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities.
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