Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Decreases By 62.2%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 4,926 shares, a decline of 62.2% from the April 15th total of 13,049 shares. Based on an average trading volume of 54,706 shares, the days-to-cover ratio is presently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Up 0.5%

MMD stock traded up $0.07 on Thursday, reaching $15.25. 34,186 shares of the company were exchanged, compared to its average volume of 61,905. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.36 and a 12 month high of $15.82. The stock’s fifty day moving average price is $15.09 and its 200 day moving average price is $15.14.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.0675 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 5.3%.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Thomas J. Herzfeld Advisors Inc. increased its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock valued at $1,446,000 after buying an additional 722 shares during the period. Whipplewood Advisors LLC increased its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 2.5% in the 3rd quarter. Whipplewood Advisors LLC now owns 49,571 shares of the closed-end fund’s stock valued at $750,000 after buying an additional 1,189 shares during the period. Royal Bank of Canada grew its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% in the 4th quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock worth $2,269,000 after purchasing an additional 1,204 shares during the last quarter. Arlington Capital Management Inc. grew its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.4% in the 4th quarter. Arlington Capital Management Inc. now owns 17,359 shares of the closed-end fund’s stock worth $258,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.7% in the 4th quarter. Jane Street Group LLC now owns 22,064 shares of the closed-end fund’s stock worth $328,000 after purchasing an additional 1,389 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.