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

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 168,000 shares, an increase of 54.6% from the August 31st total of 108,700 shares. Based on an average daily volume of 165,400 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 165,400 shares, the days-to-cover ratio is currently 1.0 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

NYSE:MEGI opened at $14.98 on Tuesday. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $11.40 and a twelve month high of $15.00. The company’s 50-day moving average price is $14.45 and its 200-day moving average price is $13.95.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 24th will be issued a dividend of $0.125 per share. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Monday, November 24th.

Institutional Investors Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

A number of large investors have recently made changes to their positions in MEGI. Chapin Davis Inc. acquired a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the first quarter worth $153,000. Penserra Capital Management LLC raised its holdings in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 0.4% during the 1st quarter. Penserra Capital Management LLC now owns 1,283,490 shares of the company’s stock worth $17,083,000 after acquiring an additional 5,132 shares during the period. Cerity Partners LLC raised its holdings in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 4.1% during the 1st quarter. Cerity Partners LLC now owns 27,599 shares of the company’s stock worth $367,000 after acquiring an additional 1,099 shares during the period. Corrado Advisors LLC boosted its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 2.2% during the 1st quarter. Corrado Advisors LLC now owns 166,303 shares of the company’s stock valued at $2,213,000 after acquiring an additional 3,599 shares during the last quarter. Finally, Accredited Investor Services LLC purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the first quarter valued at about $171,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.