MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.25 and traded as low as $14.87. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $14.9150, with a volume of 68,571 shares traded.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The firm has a 50-day moving average price of $15.26 and a 200 day moving average price of $15.24.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0675 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds have recently modified their holdings of the stock. Thomas J. Herzfeld Advisors Inc. grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock worth $1,446,000 after purchasing an additional 722 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,242 shares of the closed-end fund’s stock valued at $174,000 after buying an additional 1,034 shares during the period. Royal Bank of Canada boosted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% in the 4th quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock valued at $2,269,000 after buying an additional 1,204 shares during the period. NewEdge Advisors LLC grew its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% during the first quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock worth $1,444,000 after buying an additional 1,281 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.7% during the fourth quarter. Jane Street Group LLC now owns 22,064 shares of the closed-end fund’s stock worth $328,000 after buying an additional 1,389 shares during the period.

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.