MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 82.4% in February

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 6,400 shares, a decline of 82.4% from the January 31st total of 36,300 shares. Based on an average daily trading volume, of 139,900 shares, the days-to-cover ratio is presently 0.0 days.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In related news, Portfolio Manager John J. Lawlor bought 2,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $29,480.00. Following the completion of the acquisition, the portfolio manager now owns 4,500 shares in the company, valued at $66,330. This trade represents a 80.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Portfolio Manager David Dowden purchased 3,300 shares of the business’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $14.92 per share, for a total transaction of $49,236.00. Following the purchase, the portfolio manager now owns 3,300 shares of the company’s stock, valued at $49,236. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds have recently made changes to their positions in MMD. Elequin Capital LP acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $70,000. Nomura Holdings Inc. acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth approximately $354,000. Logan Stone Capital LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $1,225,000. NewEdge Advisors LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 36.6% during the fourth quarter. NewEdge Advisors LLC now owns 133,435 shares of the closed-end fund’s stock valued at $1,992,000 after purchasing an additional 35,743 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth $246,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.3 %

Shares of MMD opened at $15.51 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.53 and a twelve month high of $17.00. The stock’s fifty day simple moving average is $15.18 and its 200 day simple moving average is $16.04.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Friday, February 14th.

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.