MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 63.3% in August

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 4,234 shares, a decrease of 63.3% from the July 30th total of 11,526 shares. Based on an average trading volume of 68,812 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hopwood Nicholas Hunter purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter worth $940,000. Rareview Capital LLC boosted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 260.5% in the 2nd quarter. Rareview Capital LLC now owns 38,814 shares of the closed-end fund’s stock worth $574,000 after purchasing an additional 28,047 shares during the period. Rivernorth Capital Management LLC boosted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 44.9% in the 2nd quarter. Rivernorth Capital Management LLC now owns 99,375 shares of the closed-end fund’s stock worth $1,540,000 after purchasing an additional 30,815 shares during the period. Main Street Financial Solutions LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 2nd quarter valued at about $191,000. Finally, Bank of New York Mellon Corp grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 33.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,818 shares of the closed-end fund’s stock valued at $772,000 after buying an additional 12,569 shares in the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.1%

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.02 during midday trading on Friday, reaching $14.95. The stock had a trading volume of 27,830 shares, compared to its average volume of 57,206. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.45 and a 12 month high of $15.82. The firm’s 50-day moving average price is $15.16 and its 200 day moving average price is $15.20.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

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

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.