MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Issue Monthly Dividend of $0.07 on July 1st

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Wednesday, April 1st. Shareholders of record on Monday, June 15th will be paid a dividend of 0.0675 per share by the closed-end fund on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Monday, June 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

MMD stock traded down $0.17 on Friday, reaching $15.35. The company had a trading volume of 74,810 shares, compared to its average volume of 60,838. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.39 and a 1 year high of $15.82. The company’s fifty day moving average is $15.15 and its 200 day moving average is $15.16.

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.