Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Decreases By 41.3%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 20,832 shares, a decline of 41.3% from the May 31st total of 35,487 shares. Based on an average daily trading volume, of 50,466 shares, the days-to-cover ratio is presently 0.4 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.2%

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.04 during mid-day trading on Friday, hitting $15.44. The company had a trading volume of 33,543 shares, compared to its average volume of 59,572. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.39 and a 12 month high of $15.82. The stock’s 50 day moving average price is $15.24 and its two-hundred day moving average price is $15.21.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.0675 dividend. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors have recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of 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 worth $1,446,000 after purchasing an additional 722 shares in the last quarter. Royal Bank of Canada lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% during the fourth quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock valued at $2,269,000 after purchasing an additional 1,204 shares in the last quarter. NewEdge Advisors LLC grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% during the first quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock valued at $1,444,000 after purchasing an additional 1,281 shares during the period. Arlington Capital Management Inc. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.4% during the fourth quarter. Arlington Capital Management Inc. now owns 17,359 shares of the closed-end fund’s stock valued at $258,000 after purchasing an additional 1,339 shares during the period. Finally, Jane Street Group LLC increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.7% in the fourth quarter. Jane Street Group LLC now owns 22,064 shares of the closed-end fund’s stock worth $328,000 after buying an additional 1,389 shares in 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.