MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 19.9% in June

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 55,900 shares, a drop of 19.9% from the May 31st total of 69,800 shares. Based on an average daily volume of 56,500 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of large investors have recently made changes to their positions in MMD. Robinson Capital Management LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at approximately $178,000. NBC Securities Inc. increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% in the 4th quarter. NBC Securities Inc. now owns 2,000 shares of the closed-end fund’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Raymond James & Associates increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.2% during the 1st quarter. Raymond James & Associates now owns 279,478 shares of the closed-end fund’s stock worth $4,569,000 after purchasing an additional 8,661 shares during the last quarter. Eudaimonia Partners LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth $292,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 129,993 shares of the closed-end fund’s stock worth $2,125,000 after purchasing an additional 5,582 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of MMD stock opened at $16.58 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.30 and a 1-year high of $17.32. The firm has a fifty day moving average of $16.31 and a two-hundred day moving average of $16.34.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.34%.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.