MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) dropped 0.2% during mid-day trading on Monday. The company traded as low as $14.24 and last traded at $14.26. Approximately 107,954 shares were traded during trading, an increase of 63% from the average session volume of 66,237 shares. The stock had previously closed at $14.29.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance
The firm has a 50-day moving average price of $14.08 and a 200-day moving average price of $14.93.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.0675 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.81 annualized dividend and a yield of 5.7%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% during the second quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock worth $29,000 after acquiring an additional 920 shares during the period. Fifth Third Bancorp acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at about $54,000. Oppenheimer & Co. Inc. lifted its holdings in 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 acquiring an additional 1,034 shares during the last quarter. Main Street Financial Solutions LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 2nd quarter valued at about $191,000. Finally, Kestra Advisory Services LLC boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 138.0% during the 1st quarter. Kestra Advisory Services LLC now owns 15,422 shares of the closed-end fund’s stock valued at $229,000 after purchasing an additional 8,941 shares in the last quarter.
About MainStay MacKay DefinedTerm Municipal Opportunities Fund
MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities.
The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities.
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