MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Plans Monthly Dividend of $0.07

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Friday, January 2nd. Investors of record on Monday, March 16th will be paid a dividend of 0.065 per share by the closed-end fund on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, March 16th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

MMD stock opened at $14.94 on Friday. The company has a 50 day moving average price of $14.96 and a 200 day moving average price of $14.88. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.00 and a fifty-two week high of $15.86.

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.