MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Short Interest Down 91.9% in January

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 1,500 shares, a drop of 91.9% from the December 31st total of 18,600 shares. Based on an average daily volume of 198,300 shares, the days-to-cover ratio is currently 0.0 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

Shares of MainStay CBRE Global Infrastructure Megatrends Term Fund stock traded up $0.08 on Tuesday, reaching $12.48. 196,736 shares of the company’s stock were exchanged, compared to its average volume of 201,032. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 52 week low of $11.28 and a 52 week high of $14.96. The firm’s 50-day moving average is $12.79 and its two-hundred day moving average is $13.53.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 27th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, January 27th. This represents a $1.50 annualized dividend and a dividend yield of 12.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Absolute Investment Advisers LLC bought a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the 4th quarter valued at $5,410,000. Penserra Capital Management LLC increased its position in MainStay CBRE Global Infrastructure Megatrends Term Fund by 25.7% during the 3rd quarter. Penserra Capital Management LLC now owns 1,192,227 shares of the company’s stock valued at $17,776,000 after purchasing an additional 243,715 shares during the period. Raymond James & Associates lifted its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 7.4% in the 3rd quarter. Raymond James & Associates now owns 1,670,790 shares of the company’s stock worth $24,911,000 after purchasing an additional 115,214 shares during the period. Claro Advisors LLC boosted its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 534.3% during the 3rd quarter. Claro Advisors LLC now owns 120,068 shares of the company’s stock valued at $1,790,000 after purchasing an additional 101,140 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund in the second quarter worth about $1,066,000.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.