MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.02 and traded as high as $15.17. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.1150, with a volume of 71,465 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.3%

The firm has a fifty day moving average price of $15.02 and a two-hundred day moving average price of $14.74.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, December 15th.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 27.6% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 71,859 shares of the closed-end fund’s stock worth $1,084,000 after buying an additional 15,531 shares during the period. Cetera Investment Advisers purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter worth $242,000. LPL Financial LLC increased its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 50.7% during the 1st quarter. LPL Financial LLC now owns 118,799 shares of the closed-end fund’s stock worth $1,791,000 after purchasing an additional 39,990 shares during the period. Wolverine Asset Management LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter worth $190,000. Finally, AlphaCore Capital LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 1st quarter worth $190,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.