Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Grows By 52.7%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 31,300 shares, an increase of 52.7% from the April 30th total of 20,500 shares. Based on an average daily trading volume, of 66,900 shares, the days-to-cover ratio is currently 0.5 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.2%

Shares of NYSE MMD traded up $0.03 during mid-day trading on Friday, hitting $14.50. The stock had a trading volume of 61,560 shares, compared to its average volume of 92,021. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.00 and a 1 year high of $17.00. The business has a 50 day moving average price of $14.59 and a two-hundred day moving average price of $15.10.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Thursday, May 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MMD. Calamos Advisors LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $307,000. Ackerman Capital Advisors LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $328,000. Whipplewood Advisors LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $447,000. Noble Wealth Management PBC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $597,000. Finally, Raymond James Financial Inc. purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $3,310,000.

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.