MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) To Go Ex-Dividend on February 14th

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.06 per share by the closed-end fund on Friday, February 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, February 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

NYSE:MMD opened at $15.46 on Wednesday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a one year low of $14.53 and a one year high of $17.00. The company’s 50-day simple moving average is $15.23 and its 200 day simple moving average is $16.15.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager David Dowden acquired 3,300 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $14.92 per share, with a total value of $49,236.00. Following the transaction, the portfolio manager now owns 3,300 shares of the company’s stock, valued at $49,236. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Portfolio Manager John J. Lawlor bought 2,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was purchased at an average cost of $14.74 per share, with a total value of $29,480.00. Following the completion of the acquisition, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at approximately $66,330. The trade was a 80.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,800 shares of company stock valued at $118,191 in the last ninety days.

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.