MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 9,360 shares, a decline of 52.9% from the December 15th total of 19,882 shares. Based on an average daily trading volume, of 170,056 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 170,056 shares, the days-to-cover ratio is currently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.1%

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded up $0.02 on Wednesday, reaching $15.26. 52,616 shares of the stock were exchanged, compared to its average volume of 71,591. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.00 and a twelve month high of $15.86. The firm has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $14.91.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, March 16th. This represents a c) annualized dividend and a yield of 5.1%.

Insider Activity

In related news, Portfolio Manager Robert A. Dimella sold 11,965 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $14.84, for a total value of $177,560.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 739,494 shares of the closed-end fund’s stock worth $10,996,000 after buying an additional 38,972 shares during the last quarter. Arlington Capital Management Inc. increased its position 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 worth $258,000 after acquiring an additional 1,339 shares during the period. Noble Wealth Management PBC increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% during the fourth quarter. Noble Wealth Management PBC now owns 85,993 shares of the closed-end fund’s stock worth $1,279,000 after acquiring an additional 7,868 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 24.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 50,471 shares of the closed-end fund’s stock valued at $764,000 after purchasing an additional 9,926 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 3rd quarter valued at $184,000.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.