MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) To Go Ex-Dividend on September 15th

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.0675 per share by the closed-end fund on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, September 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.2%

Shares of NYSE:MMD opened at $15.44 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.39 and a 1-year high of $15.82. The firm’s 50 day simple moving average is $15.24 and its two-hundred day simple moving average is $15.21.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.