MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Breaks Below 50 Day Moving Average – Here’s Why

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) shares passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $14.06 and traded as low as $13.99. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $14.05, with a volume of 142,374 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 1.5%

The firm’s 50-day moving average is $14.06 and its 200-day moving average is $14.92.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be paid a $0.0675 dividend. This represents a $0.81 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, December 15th.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of institutional investors have recently bought and sold shares of MMD. Robinson Capital Management LLC grew its holdings 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. City of London Investment Management Co. Ltd. raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.6% in the third quarter. City of London Investment Management Co. Ltd. now owns 194,245 shares of the closed-end fund’s stock worth $2,644,000 after buying an additional 106,978 shares during the period. Noble Wealth Management PBC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.9% in the second quarter. Noble Wealth Management PBC now owns 124,708 shares of the closed-end fund’s stock worth $1,933,000 after buying an additional 4,708 shares during the period. NewEdge Advisors LLC lifted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.6% during the 2nd 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 in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 118,017 shares of the closed-end fund’s stock valued at $1,606,000 after buying an additional 5,838 shares in the last quarter.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities. The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities. Its investments can support a range of public projects and services, including education, transportation, health care, utilities and housing.