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

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

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Up 0.1%

Shares of NYSE:MMD traded up $0.01 during trading on Wednesday, reaching $15.24. The stock had a trading volume of 2,068 shares, compared to its average volume of 61,870. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52 week low of $14.36 and a 52 week high of $15.82. The firm’s fifty day moving average is $15.10 and its 200 day moving average is $15.14.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of large investors have recently bought and sold shares of MMD. Thomas J. Herzfeld Advisors Inc. lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock valued at $1,446,000 after acquiring an additional 722 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 2.5% during the 3rd quarter. Whipplewood Advisors LLC now owns 49,571 shares of the closed-end fund’s stock worth $750,000 after purchasing an additional 1,189 shares in the last quarter. Royal Bank of Canada raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% in the fourth quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock worth $2,269,000 after purchasing an additional 1,204 shares during the last quarter. Arlington Capital Management Inc. raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.4% in the fourth quarter. Arlington Capital Management Inc. now owns 17,359 shares of the closed-end fund’s stock worth $258,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.7% in the fourth quarter. Jane Street Group LLC now owns 22,064 shares of the closed-end fund’s stock worth $328,000 after purchasing an additional 1,389 shares during the last quarter.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.