MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Plans Monthly Dividend of $0.07

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0675 per share by the closed-end fund on Monday, November 2nd. This represents a $0.81 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Thursday, October 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.1%

Shares of MMD opened at $13.59 on Friday. The firm has a 50-day moving average price of $14.64 and a 200 day moving average price of $14.99. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $13.24 and a 52-week high of $15.82.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Institutional investors have recently modified their holdings of the company. Worthington Financial Partners LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter valued at about $911,000. Hopwood Nicholas Hunter acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter valued at approximately $940,000. Rivernorth Capital Management LLC boosted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 44.9% during the second quarter. Rivernorth Capital Management LLC now owns 99,375 shares of the closed-end fund’s stock valued at $1,540,000 after purchasing an additional 30,815 shares during the last quarter. Rareview Capital LLC raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 260.5% during the second quarter. Rareview Capital LLC now owns 38,814 shares of the closed-end fund’s stock worth $574,000 after acquiring an additional 28,047 shares during the last quarter. Finally, Robinson Capital Management LLC increased its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% during the second quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock worth $7,110,000 after buying an additional 26,190 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.

The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.