Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Drops By 82.4%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 6,400 shares, a decline of 82.4% from the January 31st total of 36,300 shares. Based on an average daily trading volume, of 139,900 shares, the days-to-cover ratio is currently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

MMD traded down $0.04 during trading hours on Thursday, reaching $15.51. 55,031 shares of the stock traded hands, compared to its average volume of 97,103. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.53 and a fifty-two week high of $17.00. The firm’s fifty day simple moving average is $15.17 and its two-hundred day simple moving average is $16.05.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, February 14th. This represents a $0.72 annualized dividend and a dividend yield of 4.64%.

Insiders Place Their Bets

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

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of MMD. Elequin Capital LP acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter valued at approximately $70,000. Nomura Holdings Inc. acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth approximately $354,000. Logan Stone Capital LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $1,225,000. NewEdge Advisors LLC raised its holdings in 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 acquiring an additional 35,743 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter valued at $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.