MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 40.2% in February

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 29,951 shares, a decrease of 40.2% from the January 29th total of 50,090 shares. Based on an average daily volume of 50,472 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 50,472 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. boosted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock valued at $1,446,000 after purchasing an additional 722 shares during the last quarter. Cyndeo Wealth Partners LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock worth $200,000 after purchasing an additional 1,072 shares in the last quarter. Whipplewood Advisors LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 2.5% during the 3rd quarter. Whipplewood Advisors LLC now owns 49,571 shares of the closed-end fund’s stock worth $750,000 after purchasing an additional 1,189 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% during the 4th quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock valued at $2,269,000 after buying an additional 1,204 shares during the last quarter. Finally, Arlington Capital Management Inc. lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.4% during the 4th quarter. Arlington Capital Management Inc. now owns 17,359 shares of the closed-end fund’s stock valued at $258,000 after buying an additional 1,339 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of MMD stock traded up $0.07 during trading on Friday, hitting $15.59. 36,105 shares of the company were exchanged, compared to its average volume of 61,877. The business’s 50-day simple moving average is $15.29 and its 200 day simple moving average is $15.09. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.00 and a twelve month high of $15.82.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.065 per share. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, March 16th.

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.