MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Rating)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $17.05 and traded as high as $17.30. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $17.09, with a volume of 57,932 shares trading hands.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 1.2 %
The company has a 50 day moving average price of $17.05 and a 200 day moving average price of $17.10.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.075 per share. This represents a $0.90 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Wednesday, June 14th.
Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund
Several hedge funds have recently bought and sold shares of the stock. Equitable Holdings Inc. acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth about $433,000. UBS Group AG raised its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 26.2% during the first quarter. UBS Group AG now owns 317,963 shares of the closed-end fund’s stock valued at $5,962,000 after acquiring an additional 66,039 shares during the period. Guggenheim Capital LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 139.4% in the 1st quarter. Guggenheim Capital LLC now owns 132,394 shares of the closed-end fund’s stock valued at $2,482,000 after buying an additional 77,097 shares during the period. Royal Bank of Canada increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 15.6% in the 1st quarter. Royal Bank of Canada now owns 232,292 shares of the closed-end fund’s stock valued at $4,356,000 after buying an additional 31,425 shares during the period. Finally, Advisors Asset Management Inc. grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 400.9% in the first quarter. Advisors Asset Management Inc. now owns 87,496 shares of the closed-end fund’s stock worth $1,641,000 after acquiring an additional 70,027 shares in the last quarter.
About MainStay MacKay DefinedTerm Municipal Opportunities Fund
(Get Rating)
Mainstay Mackay Definedterm Municipal Opportunities Fund operates as a closed-end investment fund, which engages in investments in the municipal bond market. Its primary objective is to seek current income exempt from regular U.S. Federal income taxes. The fund offers tax-exempt monthly distributions and total return potential, an opportunistic investment approach through active management, and a defined term that seeks to provide the net asset value upon termination to shareholders.
Featured Stories
Receive News & Ratings for MainStay MacKay DefinedTerm Municipal Opportunities Fund Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for MainStay MacKay DefinedTerm Municipal Opportunities Fund and related companies with MarketBeat.com’s FREE daily email newsletter.