MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Short Interest Down 75.6% in July

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 21,539 shares, a drop of 75.6% from the July 15th total of 88,176 shares. Based on an average daily trading volume, of 130,088 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC raised its holdings in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 6.1% during the 4th quarter. Merit Financial Group LLC now owns 23,458 shares of the company’s stock valued at $323,000 after buying an additional 1,358 shares in the last quarter. Choreo LLC boosted its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 6.2% in the fourth quarter. Choreo LLC now owns 26,530 shares of the company’s stock worth $369,000 after buying an additional 1,551 shares in the last quarter. Accredited Investor Services LLC grew its position in MainStay CBRE Global Infrastructure Megatrends Term Fund by 12.4% during the fourth quarter. Accredited Investor Services LLC now owns 18,376 shares of the company’s stock valued at $253,000 after acquiring an additional 2,028 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in MainStay CBRE Global Infrastructure Megatrends Term Fund by 0.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 341,768 shares of the company’s stock valued at $4,703,000 after acquiring an additional 2,268 shares during the last quarter. Finally, Focus Financial Network Inc. raised its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 9.3% during the second quarter. Focus Financial Network Inc. now owns 28,863 shares of the company’s stock worth $439,000 after acquiring an additional 2,459 shares in the last quarter.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

Shares of NYSE MEGI traded up $0.12 during midday trading on Thursday, reaching $15.16. The company’s stock had a trading volume of 77,876 shares, compared to its average volume of 166,717. The firm has a 50 day moving average price of $15.23 and a 200-day moving average price of $15.07. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 12-month low of $13.42 and a 12-month high of $15.89.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.125 per share. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date is Monday, August 24th.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) is a closed-end term fund that seeks to deliver total return through a combination of income and capital appreciation by investing primarily in global infrastructure securities. The fund targets companies involved in the development, ownership, or operation of transportation networks, energy and utility systems, digital infrastructure and related megatrends. By focusing on essential assets that underpin long-term economic growth, MEGI aims to generate a stable income stream while capturing opportunities for capital gains.

Launched in 2021, MEGI employs a thematic investment approach managed by CBRE Clarion Securities’ dedicated infrastructure equity team.