MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 75.9% in July

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 7,055 shares, a decrease of 75.9% from the June 30th total of 29,270 shares. Based on an average trading volume of 52,389 shares, the days-to-cover ratio is currently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Up 0.2%

MMD stock traded up $0.03 during mid-day trading on Friday, hitting $15.03. 40,414 shares of the company were exchanged, compared to its average volume of 57,735. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.40 and a 1-year high of $15.82. The business has a 50 day simple moving average of $15.28 and a 200-day simple moving average of $15.25.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.0675 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMD. Thomas J. Herzfeld Advisors Inc. increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock worth $1,446,000 after buying an additional 722 shares during the period. Royal Bank of Canada grew its stake in shares of 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 valued at $2,269,000 after acquiring an additional 1,204 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% in the first 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. Jane Street Group LLC increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.7% during the fourth quarter. Jane Street Group LLC now owns 22,064 shares of the closed-end fund’s stock worth $328,000 after acquiring an additional 1,389 shares during the period. Finally, Equitable Holdings Inc. increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 11.6% during the third quarter. Equitable Holdings Inc. now owns 26,560 shares of the closed-end fund’s stock worth $402,000 after acquiring an additional 2,759 shares during the period.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.