MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Shares Shorted: Short Interest Up 61.9% in September

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 14,948 shares, a growth of 61.9% from the August 31st total of 9,231 shares. Based on an average daily trading volume, of 59,308 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MMD. Robinson Capital Management LLC lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% during the second 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. boosted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.2% in the second quarter. Arlington Capital Management Inc. now owns 18,694 shares of the closed-end fund’s stock worth $290,000 after purchasing an additional 1,253 shares during the last quarter. NewEdge Advisors LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.6% in the 2nd quarter. NewEdge Advisors LLC now owns 103,674 shares of the closed-end fund’s stock worth $1,607,000 after purchasing an additional 6,454 shares during the period. 1607 Capital Partners LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.2% in the 2nd quarter. 1607 Capital Partners LLC now owns 50,886 shares of the closed-end fund’s stock worth $789,000 after purchasing an additional 11,798 shares during the period. Finally, Hopwood Nicholas Hunter purchased a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 2nd quarter valued at $940,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

NYSE:MMD traded up $0.24 during mid-day trading on Wednesday, reaching $13.61. The company’s stock had a trading volume of 113,646 shares, compared to its average volume of 62,393. The firm’s fifty day moving average price is $14.70 and its two-hundred day moving average price is $15.01. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $13.24 and a 12-month high of $15.82.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.