Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Decreases By 98.8%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 200 shares, a decrease of 98.8% from the November 30th total of 17,300 shares. Based on an average trading volume of 138,400 shares, the days-to-cover ratio is presently 0.0 days.

Insider Buying and Selling at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager John J. Lawlor purchased 2,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $15.79 per share, with a total value of $39,475.00. Following the completion of the purchase, the portfolio manager now owns 2,500 shares in the company, valued at $39,475. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 9.3% in the third quarter. Stifel Financial Corp now owns 48,556 shares of the closed-end fund’s stock valued at $819,000 after acquiring an additional 4,130 shares during the period. Jane Street Group LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% in the 3rd quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock valued at $11,667,000 after purchasing an additional 270,153 shares during the period. Wolverine Asset Management LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 3rd quarter valued at $112,000. Cyndeo Wealth Partners LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the third quarter worth $283,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the third quarter worth about $84,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of NYSE:MMD traded down $0.13 during mid-day trading on Friday, hitting $14.76. The company had a trading volume of 102,259 shares, compared to its average volume of 81,632. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a one year low of $14.53 and a one year high of $17.00. The firm has a fifty day moving average price of $16.05 and a 200 day moving average price of $16.46.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, December 16th.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.