MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Sees Significant Increase in Short Interest

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 48,387 shares, a growth of 214.8% from the April 15th total of 15,372 shares. Based on an average daily volume of 145,630 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FCA Corp TX grew its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 6.9% in the 1st quarter. FCA Corp TX now owns 99,337 shares of the company’s stock worth $1,459,000 after buying an additional 6,444 shares in the last quarter. Quantedge Capital Pte Ltd bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 1st quarter worth approximately $272,000. Allspring Global Investments Holdings LLC grew its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 73.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,046 shares of the company’s stock worth $3,703,000 after buying an additional 106,444 shares in the last quarter. Independent Financial Group LLC bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 1st quarter worth approximately $577,000. Finally, International Assets Investment Management LLC bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 1st quarter worth approximately $37,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 0.2%

Shares of NYSE:MEGI traded up $0.04 during trading on Thursday, hitting $15.12. 122,654 shares of the company traded hands, compared to its average volume of 191,252. MainStay CBRE Global Infrastructure Megatrends Term Fund has a one year low of $13.42 and a one year high of $15.89. The business’s fifty day moving average is $14.98 and its 200-day moving average is $14.47.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be issued a $0.125 dividend. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Friday, May 22nd.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) is a closed-end term fund that seeks to deliver total return through a combination of income and capital appreciation by investing primarily in global infrastructure securities. The fund targets companies involved in the development, ownership, or operation of transportation networks, energy and utility systems, digital infrastructure and related megatrends. By focusing on essential assets that underpin long-term economic growth, MEGI aims to generate a stable income stream while capturing opportunities for capital gains.

Launched in 2021, MEGI employs a thematic investment approach managed by CBRE Clarion Securities’ dedicated infrastructure equity team.