MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Large Drop in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient 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 daily trading volume, of 96,000 shares, the short-interest ratio is currently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

MMD stock traded down $0.22 during midday trading on Tuesday, hitting $14.05. The stock had a trading volume of 142,374 shares, compared to its average volume of 66,589. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $13.24 and a 1-year high of $15.82. The business has a fifty day moving average price of $14.08 and a two-hundred day moving average price of $14.93.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.0675 per share. This represents a $0.81 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, December 15th.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

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

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.