MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) to Issue Monthly Dividend of $0.06

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Tuesday, October 1st, Zacks reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.06 per share by the closed-end fund on Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, October 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of NYSE:MMD traded down $0.08 during midday trading on Wednesday, hitting $16.85. The stock had a trading volume of 10,725 shares, compared to its average volume of 60,655. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.30 and a 12 month high of $17.00. The business’s 50-day simple moving average is $16.77 and its 200-day simple moving average is $16.48.

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.