MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Issue Monthly Dividend of $0.07 on January 4th

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Thursday, October 1st. Investors of record on Tuesday, December 15th will be paid a dividend of $0.0675 per share by the closed-end fund on Monday, January 4th. This represents a $0.81 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, December 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of NYSE:MMD opened at $13.77 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a one year low of $13.24 and a one year high of $15.82. The firm has a 50 day simple moving average of $14.62 and a 200 day simple moving average of $14.98.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of institutional investors have recently made changes to their positions in the stock. Kelleher Financial Advisors boosted its stake in shares of 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 purchasing an additional 920 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% in the second quarter. Oppenheimer & Co. Inc. now owns 11,242 shares of the closed-end fund’s stock valued at $174,000 after buying an additional 1,034 shares during the period. Arlington Capital Management Inc. grew its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.2% during the 2nd quarter. Arlington Capital Management Inc. now owns 18,694 shares of the closed-end fund’s stock worth $290,000 after buying an additional 1,253 shares during the period. NewEdge Advisors LLC increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% in the 1st quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock valued at $1,444,000 after acquiring an additional 1,281 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter valued at $54,000.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.

The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.