MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Large Increase in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 9,800 shares, a growth of 276.9% from the February 28th total of 2,600 shares. Based on an average trading volume of 117,700 shares, the short-interest ratio is presently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.5 %

NYSE:MMD opened at $15.04 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.53 and a 1 year high of $17.00. The firm has a 50 day moving average of $15.34 and a 200-day moving average of $15.82.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Friday, March 14th.

Insider Buying and Selling at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager John J. Lawlor purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was purchased at an average cost of $14.74 per share, with a total value of $29,480.00. Following the acquisition, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at approximately $66,330. This trade represents a 80.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Portfolio Manager David Dowden purchased 3,300 shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $14.92 per share, for a total transaction of $49,236.00. Following the completion of the transaction, the portfolio manager now owns 3,300 shares of the company’s stock, valued at approximately $49,236. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently made changes to their positions in the business. Stifel Financial Corp lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 9.3% during the 3rd quarter. Stifel Financial Corp now owns 48,556 shares of the closed-end fund’s stock worth $819,000 after buying an additional 4,130 shares in the last quarter. Jane Street Group LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% in the third quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock worth $11,667,000 after acquiring an additional 270,153 shares during the last quarter. Integrated Capital Management Inc. acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth approximately $204,000. Park Avenue Securities LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at approximately $1,303,000. Finally, Rovin Capital UT ADV increased its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.0% in the fourth quarter. Rovin Capital UT ADV now owns 28,114 shares of the closed-end fund’s stock valued at $420,000 after purchasing an additional 1,091 shares in the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.