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

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 43,100 shares, a decrease of 16.6% from the January 31st total of 51,700 shares. Based on an average daily volume of 221,100 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of MainStay CBRE Global Infrastructure Megatrends Term Fund

A number of institutional investors have recently bought and sold shares of MEGI. Saba Capital Management L.P. raised its holdings in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 0.8% in the fourth quarter. Saba Capital Management L.P. now owns 5,775,813 shares of the company’s stock worth $70,292,000 after buying an additional 45,534 shares during the last quarter. Quantedge Capital Pte Ltd raised its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 74.0% in the 4th quarter. Quantedge Capital Pte Ltd now owns 50,331 shares of the company’s stock worth $613,000 after acquiring an additional 21,400 shares during the last quarter. Logan Stone Capital LLC acquired a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund during the 4th quarter worth about $851,000. Bramshill Investments LLC grew its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 13.7% during the 4th quarter. Bramshill Investments LLC now owns 70,224 shares of the company’s stock valued at $855,000 after purchasing an additional 8,479 shares during the last quarter. Finally, Aptus Capital Advisors LLC acquired a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter valued at about $183,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 1.2 %

MEGI stock traded up $0.15 on Wednesday, hitting $12.61. 205,856 shares of the company’s stock were exchanged, compared to its average volume of 183,364. The firm has a 50 day moving average price of $12.47 and a two-hundred day moving average price of $13.38. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 12-month low of $11.28 and a 12-month high of $14.96.

MainStay CBRE Global Infrastructure Megatrends Term Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 24th were given a $0.125 dividend. This represents a $1.50 annualized dividend and a dividend yield of 11.90%. The ex-dividend date was Monday, February 24th.

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.