MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Shares Cross Below 200-Day Moving Average – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.24 and traded as low as $14.95. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $14.98, with a volume of 66,905 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The business has a fifty day moving average of $15.24 and a two-hundred day moving average of $15.23.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0675 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Large investors have recently modified their holdings of the stock. Kelleher Financial Advisors grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% in the 2nd quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock valued at $29,000 after buying an additional 920 shares during the last quarter. Fifth Third Bancorp acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth approximately $54,000. Kestra Advisory Services LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth approximately $96,000. Pasadena Private Wealth LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $149,000. Finally, Financially in Tune LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $155,000.

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.