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 increase in short interest in March. As of March 15th, there was short interest totalling 9,800 shares, an increase of 276.9% from the February 28th total of 2,600 shares. Based on an average daily trading volume, of 117,700 shares, the days-to-cover ratio is presently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of NYSE:MMD traded down $0.05 on Thursday, reaching $15.17. The company had a trading volume of 18,438 shares, compared to its average volume of 89,173. The stock has a 50-day moving average price of $15.33 and a 200 day moving average price of $15.84. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.53 and a twelve month high of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.06 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 4.75%.

Insider Activity at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager David Dowden bought 3,300 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was bought at an average cost of $14.92 per share, with a total value of $49,236.00. Following the completion of the transaction, the portfolio manager now directly owns 3,300 shares of the company’s stock, valued at approximately $49,236. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Portfolio Manager John J. Lawlor purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were acquired at an average price of $14.74 per share, for a total transaction of $29,480.00. Following the purchase, the portfolio manager now owns 4,500 shares in the company, valued at $66,330. The trade was a 80.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of large investors have recently added to or reduced their stakes in the stock. Elequin Capital LP acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $70,000. Nomura Holdings Inc. acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth $354,000. Logan Stone Capital LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at about $1,225,000. NewEdge Advisors LLC grew its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 36.6% in the fourth quarter. NewEdge Advisors LLC now owns 133,435 shares of the closed-end fund’s stock valued at $1,992,000 after purchasing an additional 35,743 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth about $246,000.

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.