MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Crosses Below 50-Day Moving Average – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.26 and traded as low as $15.16. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.26, with a volume of 54,883 shares trading hands.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1%

The firm’s fifty day moving average price is $15.26 and its 200-day moving average price is $15.22.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.0675 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 5.3%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MMD. Thomas J. Herzfeld Advisors Inc. raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock worth $1,446,000 after purchasing an additional 722 shares in the last quarter. Royal Bank of Canada raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% in the fourth quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock worth $2,269,000 after buying an additional 1,204 shares during the last quarter. NewEdge Advisors LLC raised its holdings in 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 worth $1,444,000 after acquiring an additional 1,281 shares during the last quarter. Arlington Capital Management Inc. raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.4% in the fourth quarter. Arlington Capital Management Inc. now owns 17,359 shares of the closed-end fund’s stock worth $258,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.7% during the 4th quarter. Jane Street Group LLC now owns 22,064 shares of the closed-end fund’s stock valued at $328,000 after acquiring an additional 1,389 shares during the period.

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.