MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Shareholders to Get $0.07 Monthly Dividend

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Thursday, October 1st. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.0675 per share by the closed-end fund on Monday, November 2nd. This represents a $0.81 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Thursday, October 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of MMD stock opened at $13.77 on Friday. The stock’s fifty day moving average price is $14.64 and its 200 day moving average price is $14.99. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $13.24 and a 1-year high of $15.82.

Institutional Investors 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 the stock. Kelleher Financial Advisors boosted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% during the second quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock worth $29,000 after buying an additional 920 shares in the last quarter. Fifth Third Bancorp acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at approximately $54,000. Financially in Tune LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $155,000. Rareview Capital LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at about $159,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% in the second quarter. Oppenheimer & Co. Inc. now owns 11,242 shares of the closed-end fund’s stock valued at $174,000 after acquiring an additional 1,034 shares in the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.

The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.