Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Decreases By 62.2%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 4,926 shares, a decline of 62.2% from the April 15th total of 13,049 shares. Based on an average daily volume of 54,706 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently bought and sold shares of MMD. Fifth Third Bancorp acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter worth about $54,000. Kestra Advisory Services LLC lifted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 138.0% in the first quarter. Kestra Advisory Services LLC now owns 15,422 shares of the closed-end fund’s stock valued at $229,000 after acquiring an additional 8,941 shares during the last quarter. Rareview Capital LLC acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter worth $159,000. Worthington Financial Partners LLC acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $911,000. Finally, Financially in Tune LLC acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $155,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.5%

Shares of NYSE:MMD traded up $0.07 on Thursday, reaching $15.25. 34,186 shares of the company’s stock were exchanged, compared to its average volume of 61,905. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.36 and a fifty-two week high of $15.82. The business’s 50-day moving average is $15.09 and its two-hundred day moving average is $15.14.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.0675 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, June 15th.

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.