MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 21,238 shares, an increase of 126.9% from the December 31st total of 9,360 shares. Based on an average daily trading volume, of 71,359 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 71,359 shares, the days-to-cover ratio is currently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.8%

Shares of NYSE:MMD traded up $0.12 during trading on Friday, hitting $15.58. The stock had a trading volume of 72,366 shares, compared to its average volume of 78,123. The firm’s fifty day moving average is $15.02 and its 200 day moving average is $14.95. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.00 and a 12 month high of $15.86.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a $0.065 dividend. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

Insiders Place Their Bets

In other news, Portfolio Manager Robert A. Dimella sold 11,965 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $14.84, for a total transaction of $177,560.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 739,494 shares of the closed-end fund’s stock worth $10,996,000 after acquiring an additional 38,972 shares in the last quarter. Raymond James Financial Inc. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 13.2% in the third quarter. Raymond James Financial Inc. now owns 567,803 shares of the closed-end fund’s stock worth $8,591,000 after purchasing an additional 66,168 shares during the period. Bank of America Corp DE increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.3% during the second quarter. Bank of America Corp DE now owns 326,646 shares of the closed-end fund’s stock valued at $4,831,000 after purchasing an additional 13,581 shares in the last quarter. Guggenheim Capital LLC increased its stake 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 valued at $4,311,000 after purchasing an additional 163,614 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 12.0% during the first quarter. Royal Bank of Canada now owns 162,191 shares of the closed-end fund’s stock valued at $2,446,000 after purchasing an additional 17,390 shares during the last quarter.

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.