MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Short Interest Falls 93.1%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 2,181 shares, a decline of 93.1% from the October 15th total of 31,602 shares. Based on an average trading volume of 96,000 shares, the days-to-cover ratio is presently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

NYSE MMD traded down $0.22 on Tuesday, reaching $14.05. The stock had a trading volume of 142,374 shares, compared to its average volume of 66,589. The firm has a fifty day moving average of $14.08 and a two-hundred day moving average of $14.93. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $13.24 and a 1-year 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 Monday, January 4th. Investors of record on Tuesday, December 15th will be given a dividend of $0.0675 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.81 dividend on an annualized basis and a yield of 5.8%.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMD. ProVise Management Group LLC lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.9% during the third quarter. ProVise Management Group LLC now owns 107,035 shares of the closed-end fund’s stock worth $1,457,000 after purchasing an additional 4,002 shares during the period. Kestra Advisory Services LLC raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 118,017 shares of the closed-end fund’s stock valued at $1,606,000 after buying an additional 5,838 shares in the last quarter. City of London Investment Management Co. Ltd. raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.6% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 194,245 shares of the closed-end fund’s stock valued at $2,644,000 after buying an additional 106,978 shares in the last quarter. Ackerman Capital Advisors LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.4% during the 3rd quarter. Ackerman Capital Advisors LLC now owns 47,931 shares of the closed-end fund’s stock worth $652,000 after acquiring an additional 1,567 shares during the period. Finally, MGO One Seven LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 21.1% during the 3rd quarter. MGO One Seven LLC now owns 23,682 shares of the closed-end fund’s stock worth $322,000 after acquiring an additional 4,125 shares during the period.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities. The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities. Its investments can support a range of public projects and services, including education, transportation, health care, utilities and housing.