MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Issue Monthly Dividend of $0.07 on September 1st

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Wednesday, July 1st. Investors of record on Friday, August 14th will be given a dividend of 0.0675 per share by the closed-end fund on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, August 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of NYSE MMD opened at $14.98 on Wednesday. The stock’s 50-day simple moving average is $15.24 and its two-hundred day simple moving average is $15.24. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.40 and a twelve month high of $15.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kelleher Financial Advisors raised its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% in the second quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock valued at $29,000 after purchasing an additional 920 shares in the last quarter. Fifth Third Bancorp purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter worth approximately $54,000. Kestra Advisory Services LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $96,000. Pasadena Private Wealth LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth $149,000. Finally, Financially in Tune LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth $155,000.

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.