MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.86 and traded as high as $15.24. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.08, with a volume of 68,167 shares changing hands.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.8%

The business’s 50 day simple moving average is $14.86 and its 200-day simple moving average is $14.71.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 4.8%.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 77.4% during the first quarter. Raymond James Financial Inc. now owns 393,347 shares of the closed-end fund’s stock worth $5,932,000 after purchasing an additional 171,635 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 128.0% during the second quarter. Guggenheim Capital LLC now owns 291,477 shares of the closed-end fund’s stock worth $4,311,000 after purchasing an additional 163,614 shares in the last quarter. Whipplewood Advisors LLC boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 21,120.2% during the second quarter. Whipplewood Advisors LLC now owns 48,382 shares of the closed-end fund’s stock worth $716,000 after purchasing an additional 48,154 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth $606,000. Finally, LPL Financial LLC boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 50.7% during the first quarter. LPL Financial LLC now owns 118,799 shares of the closed-end fund’s stock worth $1,791,000 after purchasing an additional 39,990 shares in the last quarter.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.