Short Interest in MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Grows By 214.8%

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 48,387 shares, a growth of 214.8% from the April 15th total of 15,372 shares. Based on an average daily trading volume, of 145,630 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Morgan Stanley increased its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 11.3% during the 4th quarter. Morgan Stanley now owns 5,769,365 shares of the company’s stock worth $79,386,000 after purchasing an additional 584,119 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.1% during the 3rd quarter. Raymond James Financial Inc. now owns 2,465,902 shares of the company’s stock worth $36,199,000 after purchasing an additional 120,525 shares during the last quarter. Royal Bank of Canada increased its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 11.4% during the 4th quarter. Royal Bank of Canada now owns 1,002,528 shares of the company’s stock worth $13,795,000 after purchasing an additional 102,850 shares during the last quarter. Sit Investment Associates Inc. acquired a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the 4th quarter worth about $9,998,000. Finally, Bank of America Corp DE increased its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 7.9% during the 3rd quarter. Bank of America Corp DE now owns 724,116 shares of the company’s stock worth $10,630,000 after purchasing an additional 52,948 shares during the last quarter.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Down 1.3%

MEGI stock traded down $0.20 during midday trading on Friday, hitting $14.90. The company’s stock had a trading volume of 122,719 shares, compared to its average volume of 190,514. The company’s fifty day moving average price is $14.97 and its 200 day moving average price is $14.47. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $13.42 and a twelve month high of $15.89.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, May 22nd. This represents a c) annualized dividend and a dividend yield of 10.1%.

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.