MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Sees Significant Decrease in Short Interest

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 31,600 shares, a drop of 28.2% from the February 28th total of 44,000 shares. Based on an average trading volume of 213,800 shares, the days-to-cover ratio is presently 0.1 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

Shares of MEGI stock traded up $0.12 on Tuesday, hitting $13.43. 162,938 shares of the company’s stock traded hands, compared to its average volume of 156,549. The company’s fifty day simple moving average is $12.70 and its 200 day simple moving average is $13.25. MainStay CBRE Global Infrastructure Megatrends Term Fund has a one year low of $11.28 and a one year high of $14.96.

MainStay CBRE Global Infrastructure Megatrends Term Fund Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, March 24th. This represents a dividend yield of 11.4%. This is an increase from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous dividend of $0.11.

Institutional Investors Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

Several institutional investors have recently bought and sold shares of MEGI. FCA Corp TX boosted its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.0% during the fourth quarter. FCA Corp TX now owns 105,941 shares of the company’s stock valued at $1,289,000 after purchasing an additional 5,087 shares during the period. Advisors Asset Management Inc. raised its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 4.5% during the 4th quarter. Advisors Asset Management Inc. now owns 263,040 shares of the company’s stock valued at $3,201,000 after buying an additional 11,305 shares during the last quarter. Raymond James Financial Inc. bought a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter worth $24,620,000. Steward Partners Investment Advisory LLC increased its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 71,297 shares of the company’s stock valued at $868,000 after acquiring an additional 5,678 shares during the period. Finally, Vista Investment Partners II LLC bought a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter valued at about $136,000.

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.