MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Plans $0.07 Monthly Dividend

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Wednesday, April 1st. Stockholders of record on Monday, June 15th will be paid a dividend of 0.0675 per share by the closed-end fund on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Monday, June 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 1.1%

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.17 during midday trading on Friday, hitting $15.35. 74,810 shares of the stock were exchanged, compared to its average volume of 60,838. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $14.39 and a 52-week high of $15.82. The business’s 50-day moving average price is $15.15 and its 200-day moving average price is $15.16.

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.