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

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) declared a monthly dividend on Monday, September 16th, NASDAQ reports. Shareholders of record on Thursday, September 26th will be given a dividend of 0.125 per share on Monday, September 30th. This represents a $1.50 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Thursday, September 26th.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance

MainStay CBRE Global Infrastructure Megatrends Term Fund stock opened at $14.62 on Wednesday. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $10.63 and a twelve month high of $14.63. The company’s 50-day moving average price is $13.62 and its 200-day moving average price is $12.94.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. acquired 18,430 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $12.43 per share, with a total value of $229,084.90. Following the purchase, the insider now directly owns 5,729,702 shares of the company’s stock, valued at $71,220,195.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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.