MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Monthly Dividend of $0.06 (NYSE:MMD)

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Monday, March 3rd, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.06 per share by the closed-end fund on Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Friday, March 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.2 %

Shares of MMD stock opened at $15.32 on Wednesday. The business’s fifty day moving average is $15.27 and its 200 day moving average is $15.96. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.53 and a twelve month high of $17.00.

Insider Buying and Selling

In other news, Portfolio Manager David Dowden purchased 3,300 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $14.92 per share, for a total transaction of $49,236.00. Following the completion of the acquisition, the portfolio manager now owns 3,300 shares of the company’s stock, valued at approximately $49,236. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Portfolio Manager John J. Lawlor acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were bought at an average cost of $14.74 per share, for a total transaction of $29,480.00. Following the completion of the acquisition, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at approximately $66,330. The trade was a 80.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.