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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Thursday, October 1st. Investors of record on Thursday, October 15th will be paid a dividend of $0.0675 per share by the closed-end fund on Monday, November 2nd. This represents a $0.81 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Thursday, October 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1%

MMD stock opened at $13.59 on Friday. The business has a fifty day moving average price of $14.64 and a 200 day moving average price of $14.99. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $13.24 and a fifty-two week high of $15.82.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Robinson Capital Management LLC increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% during the 2nd quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock valued at $7,110,000 after purchasing an additional 26,190 shares during the period. Arlington Capital Management Inc. lifted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.2% during the 2nd quarter. Arlington Capital Management Inc. now owns 18,694 shares of the closed-end fund’s stock valued at $290,000 after acquiring an additional 1,253 shares during the period. NewEdge Advisors LLC raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.6% in the second quarter. NewEdge Advisors LLC now owns 103,674 shares of the closed-end fund’s stock valued at $1,607,000 after buying an additional 6,454 shares during the last quarter. 1607 Capital Partners LLC grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.2% during the second quarter. 1607 Capital Partners LLC now owns 50,886 shares of the closed-end fund’s stock worth $789,000 after buying an additional 11,798 shares during the period. Finally, Hopwood Nicholas Hunter acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter worth approximately $940,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.

The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.