MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.96 and traded as high as $15.12. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.10, with a volume of 41,172 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.3%

The company’s fifty day simple moving average is $14.96 and its 200 day simple moving average is $14.71.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $0.06 dividend. The ex-dividend date is Monday, December 15th. This represents a c) annualized dividend and a yield of 4.8%.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 30,972 shares of the closed-end fund’s stock worth $467,000 after buying an additional 1,053 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock valued at $200,000 after purchasing an additional 1,072 shares during the last quarter. Intellus Advisors LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 2.5% during the second quarter. Intellus Advisors LLC now owns 90,806 shares of the closed-end fund’s stock valued at $1,343,000 after purchasing an additional 2,248 shares during the last quarter. ProVise Management Group LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.1% during the first quarter. ProVise Management Group LLC now owns 92,107 shares of the closed-end fund’s stock valued at $1,389,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Arlington Capital Management Inc. lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 21.5% during the first quarter. Arlington Capital Management Inc. now owns 17,417 shares of the closed-end fund’s stock valued at $263,000 after purchasing an additional 3,084 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.