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 dividend on an annualized basis 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 %

Shares of MEGI stock traded up $0.13 during trading hours on Thursday, reaching $13.50. The stock had a trading volume of 7,055 shares, compared to its average volume of 143,903. The firm has a 50-day simple moving average of $13.00 and a 200-day simple moving average of $12.71. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $10.63 and a twelve month high of $13.70.

Insider Transactions at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 22,270 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $13.35 per share, for a total transaction of $297,304.50. Following the completion of the acquisition, the insider now directly owns 5,653,772 shares of the company’s stock, valued at $75,477,856.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 67,228 shares of company stock valued at $868,328 in the last quarter.

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.