MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Large Growth in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 21,238 shares, an increase of 126.9% from the December 31st total of 9,360 shares. Based on an average trading volume of 71,359 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 71,359 shares, the days-to-cover ratio is currently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.8%

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded up $0.12 during trading on Friday, hitting $15.58. The company’s stock had a trading volume of 72,366 shares, compared to its average volume of 78,123. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52 week low of $14.00 and a 52 week high of $15.86. The company has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $14.95.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a dividend of $0.065 per share. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, March 16th.

Insider Buying and Selling at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In related news, Portfolio Manager Robert A. Dimella sold 11,965 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $14.84, for a total transaction of $177,560.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Large investors have recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at approximately $184,000. Cyndeo Wealth Partners LLC raised its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock worth $200,000 after acquiring an additional 1,072 shares during the period. Arlington Capital Management Inc. acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 3rd quarter worth about $242,000. U.S. Capital Wealth Advisors LLC lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 26.8% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 19,026 shares of the closed-end fund’s stock valued at $288,000 after purchasing an additional 4,026 shares in the last quarter. Finally, Integrated Capital Management Inc. lifted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 23.9% in the 2nd quarter. Integrated Capital Management Inc. now owns 22,462 shares of the closed-end fund’s stock worth $332,000 after purchasing an additional 4,327 shares in the last quarter.

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.