MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Short Interest Falls 93.1%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 2,181 shares, a decrease of 93.1% from the October 15th total of 31,602 shares. Based on an average trading volume of 96,000 shares, the days-to-cover ratio is currently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.14 on Thursday, hitting $13.86. The stock had a trading volume of 148,897 shares, compared to its average volume of 67,182. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $13.24 and a twelve month high of $15.82. The business’s 50 day moving average is $14.03 and its two-hundred day moving average is $14.91.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be issued a $0.0675 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, December 15th.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager David Dowden sold 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $14.02, for a total transaction of $46,266.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hopwood Nicholas Hunter bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the second quarter valued at about $940,000. 1607 Capital Partners LLC grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.2% in the second quarter. 1607 Capital Partners LLC now owns 50,886 shares of the closed-end fund’s stock valued at $789,000 after acquiring an additional 11,798 shares in the last quarter. Arlington Capital Management Inc. grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.2% in the second quarter. Arlington Capital Management Inc. now owns 18,694 shares of the closed-end fund’s stock valued at $290,000 after acquiring an additional 1,253 shares in the last quarter. Robinson Capital Management LLC increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% during the second quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock worth $7,110,000 after acquiring an additional 26,190 shares during the period. Finally, Bank of New York Mellon Corp increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 33.7% during the second quarter. Bank of New York Mellon Corp now owns 49,818 shares of the closed-end fund’s stock worth $772,000 after acquiring an additional 12,569 shares during the period.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities. The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities. Its investments can support a range of public projects and services, including education, transportation, health care, utilities and housing.