MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) to Issue Monthly Dividend of $0.13

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) declared a monthly dividend on Tuesday, August 13th, Zacks reports. Stockholders of record on Monday, August 26th will be given a dividend of 0.125 per share on Friday, August 30th. This represents a $1.50 annualized dividend and a dividend yield of 11.11%. The ex-dividend date of this dividend is Monday, August 26th.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 1.0 %

MEGI stock traded up $0.13 on Thursday, hitting $13.50. 7,055 shares of the company’s stock traded hands, compared to its average volume of 143,903. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 1-year low of $10.63 and a 1-year high of $13.70. The stock has a fifty day moving average of $13.00 and a 200-day moving average of $12.71.

Insider Activity at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 3,280 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $13.43 per share, with a total value of $44,050.40. Following the acquisition, the insider now directly owns 5,631,502 shares of the company’s stock, valued at approximately $75,631,071.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have bought 67,228 shares of company stock worth $868,328.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

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.