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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Tuesday, September 15th will be paid 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 yield of 5.2%. The ex-dividend date is Tuesday, September 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

NYSE:MMD traded down $0.01 during midday trading on Wednesday, reaching $15.49. The stock had a trading volume of 68,457 shares, compared to its average volume of 59,782. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.39 and a 1-year high of $15.82. The firm’s fifty day simple moving average is $15.23 and its 200-day simple moving average is $15.20.

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.