MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 11,526 shares, a growth of 63.4% from the July 15th total of 7,055 shares. Based on an average daily volume of 33,580 shares, the days-to-cover ratio is presently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

MMD stock traded down $0.04 during mid-day trading on Monday, reaching $14.99. The company had a trading volume of 42,137 shares, compared to its average volume of 57,694. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a one year low of $14.40 and a one year high of $15.82. The stock’s 50-day simple moving average is $15.23 and its two-hundred day simple moving average is $15.23.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

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

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors grew its position 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 worth $29,000 after purchasing an additional 920 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth approximately $54,000. Kestra Advisory Services LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth approximately $96,000. Pasadena Private Wealth LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $149,000. Finally, Financially in Tune LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth 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.