MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 4,234 shares, a decline of 63.3% from the July 30th total of 11,526 shares. Based on an average trading volume of 68,812 shares, the days-to-cover ratio is currently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of MMD stock traded down $0.02 on Friday, hitting $14.95. 27,830 shares of the stock traded hands, compared to its average volume of 57,206. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.45 and a 1-year high of $15.82. The company’s fifty day moving average is $15.17 and its 200 day moving average is $15.20.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0675 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 5.4%.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Thomas J. Herzfeld Advisors Inc. boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.7% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,226 shares of the closed-end fund’s stock valued at $1,446,000 after buying an additional 722 shares during the period. Kelleher Financial Advisors raised its stake 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. Oppenheimer & Co. Inc. raised its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% during the second quarter. Oppenheimer & Co. Inc. now owns 11,242 shares of the closed-end fund’s stock worth $174,000 after acquiring an additional 1,034 shares during the period. Royal Bank of Canada lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 0.8% in the fourth quarter. Royal Bank of Canada now owns 152,597 shares of the closed-end fund’s stock worth $2,269,000 after acquiring an additional 1,204 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% in the first quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock worth $1,444,000 after acquiring an additional 1,281 shares during 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.