MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Up 276.9% in March

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 9,800 shares, an increase of 276.9% from the February 28th total of 2,600 shares. Based on an average daily trading volume, of 117,700 shares, the days-to-cover ratio is presently 0.1 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.5 %

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock opened at $15.04 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52 week low of $14.53 and a 52 week high of $17.00. The business’s 50-day simple moving average is $15.34 and its 200-day simple moving average is $15.82.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.79%.

Insider Activity at MainStay MacKay DefinedTerm Municipal Opportunities Fund

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

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $70,000. Nomura Holdings Inc. acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at about $354,000. Logan Stone Capital LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at about $1,225,000. NewEdge Advisors LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 36.6% during the fourth quarter. NewEdge Advisors LLC now owns 133,435 shares of the closed-end fund’s stock worth $1,992,000 after buying 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 fourth quarter valued at about $246,000.

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.