MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Shares Shorted: Short Interest Up 61.9% in September

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant increase in short interest in September. As of September 15th, there was short interest totaling 14,948 shares, an increase of 61.9% from the August 31st total of 9,231 shares. Based on an average daily trading volume, of 59,308 shares, the short-interest ratio is currently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

MMD stock opened at $13.61 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $13.24 and a 52-week high of $15.82. The firm has a 50 day moving average price of $14.64 and a 200-day moving average price of $14.99.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be given a $0.0675 dividend. This represents a $0.81 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, December 15th.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Kelleher Financial Advisors raised its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% during the 2nd quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock worth $29,000 after acquiring an additional 920 shares in the last quarter. Fifth Third Bancorp bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter valued at about $54,000. Financially in Tune LLC purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $155,000. Rareview Capital LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter worth $159,000. Finally, Oppenheimer & Co. Inc. raised its stake in 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 worth $174,000 after buying 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.