MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Large Decrease in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 18,984 shares, a decrease of 32.3% from the March 15th total of 28,048 shares. Based on an average trading volume of 68,106 shares, the short-interest ratio is currently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.2%

MMD traded down $0.03 during trading hours on Thursday, reaching $15.23. The company’s stock had a trading volume of 31,545 shares, compared to its average volume of 62,816. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.00 and a fifty-two week high of $15.82. The business’s 50-day moving average is $15.25 and its 200-day moving average is $15.13.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.0675 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 5.3%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $96,000. Pasadena Private Wealth LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $149,000. Financially in Tune LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $155,000. Elevation Point Wealth Partners LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at approximately $184,000. Finally, Cyndeo Wealth Partners LLC lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock valued at $200,000 after acquiring an additional 1,072 shares during the last quarter.

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.