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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Wednesday, July 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.0675 per share by the closed-end fund on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.1%

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock opened at $15.49 on Thursday. The stock has a fifty day simple moving average of $15.23 and a 200 day simple moving average of $15.21. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $14.39 and a 12-month high of $15.82.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at about $54,000. Kestra Advisory Services LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at about $96,000. Pasadena Private Wealth LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth about $149,000. Financially in Tune LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth about $155,000. Finally, Rareview Capital LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth about $159,000.

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.