MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 59.4% in February

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 2,600 shares, a drop of 59.4% from the February 13th total of 6,400 shares. Based on an average daily volume of 132,200 shares, the days-to-cover ratio is currently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.3 %

Shares of NYSE:MMD traded down $0.05 on Thursday, reaching $15.12. 15,988 shares of the company traded hands, compared to its average volume of 88,793. The business’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $15.96. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52 week low of $14.53 and a 52 week high of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, March 14th.

Insider Activity at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager David Dowden acquired 3,300 shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $14.92 per share, for a total transaction of $49,236.00. Following the transaction, the portfolio manager now owns 3,300 shares of the company’s stock, valued at $49,236. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Portfolio Manager John J. Lawlor purchased 2,000 shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock in a transaction on 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 completion of the transaction, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at approximately $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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit X LLC boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 19.2% during the fourth quarter. Summit X LLC now owns 24,741 shares of the closed-end fund’s stock valued at $369,000 after purchasing an additional 3,983 shares in the last quarter. Noble Wealth Management PBC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $597,000. Whipplewood Advisors LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at approximately $447,000. Ackerman Capital Advisors LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at approximately $328,000. Finally, Calamos Advisors LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth $307,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.