MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Significant Decrease in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 18,984 shares, a decrease of 32.3% from the March 15th total of 28,048 shares. Based on an average daily volume of 68,106 shares, the short-interest ratio is presently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

MMD stock traded up $0.03 during trading on Tuesday, hitting $15.22. 57,570 shares of the company’s stock traded hands, compared to its average volume of 63,459. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.00 and a 1 year high of $15.82. The business has a fifty day simple moving average of $15.27 and a two-hundred day simple moving average of $15.13.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.0675 dividend. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of institutional investors have recently added to or reduced their stakes in MMD. Kestra Advisory Services LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth about $96,000. Pasadena Private Wealth LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $149,000. Financially in Tune LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth approximately $155,000. Elevation Point Wealth Partners LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at approximately $184,000. Finally, Cyndeo Wealth Partners LLC boosted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock valued at $200,000 after acquiring an additional 1,072 shares in the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.