MainStay CBRE Global Infrastructure Megatrends Term Fund (MEGI) To Go Ex-Dividend on April 19th

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend on Friday, April 12th, investing.com reports. Stockholders of record on Monday, April 22nd will be given a dividend of 0.125 per share on Tuesday, April 30th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 13.23%. The ex-dividend date is Friday, April 19th. This is a boost from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous monthly dividend of $0.11.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Down 2.9 %

Shares of MEGI stock opened at $11.34 on Wednesday. The stock has a 50-day simple moving average of $12.39 and a 200 day simple moving average of $12.38. MainStay CBRE Global Infrastructure Megatrends Term Fund has a fifty-two week low of $10.63 and a fifty-two week high of $14.89.

Insider Buying and Selling at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, major shareholder Saba Capital Management, L.P. bought 22,144 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost of $12.30 per share, for a total transaction of $272,371.20. Following the acquisition, the insider now directly owns 5,507,053 shares of the company’s stock, valued at $67,736,751.90. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

A number of hedge funds have recently modified their holdings of MEGI. LPL Financial LLC lifted its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 14.0% in the 3rd quarter. LPL Financial LLC now owns 28,338 shares of the company’s stock valued at $334,000 after acquiring an additional 3,485 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the third quarter valued at $327,000. Captrust Financial Advisors purchased a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the second quarter valued at $318,000. Nomura Holdings Inc. acquired a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund during the 4th quarter worth about $230,000. Finally, Jane Street Group LLC purchased a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the 2nd quarter valued at about $214,000.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.