Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Drops By 62.2%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 4,926 shares, a drop of 62.2% from the April 15th total of 13,049 shares. Based on an average daily volume of 54,706 shares, the short-interest ratio is currently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 1.2%

Shares of NYSE MMD traded down $0.19 during mid-day trading on Friday, hitting $15.07. The company had a trading volume of 75,947 shares, compared to its average volume of 62,055. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.36 and a 12 month high of $15.82. The firm’s 50 day simple moving average is $15.07 and its two-hundred day simple moving average is $15.14.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.0675 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 5.4%.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter worth approximately $54,000. Kestra Advisory Services LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $96,000. Pasadena Private Wealth LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at approximately $149,000. Financially in Tune LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at approximately $155,000. Finally, Rareview Capital LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at approximately $159,000.

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.