MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Significant Increase in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 59,900 shares, an increase of 22.0% from the October 31st total of 49,100 shares. Based on an average daily volume of 106,500 shares, the days-to-cover ratio is currently 0.6 days.

Insider Activity at MainStay MacKay DefinedTerm Municipal Opportunities Fund

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

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMD. Almitas Capital LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.8% during the 2nd quarter. Almitas Capital LLC now owns 500,407 shares of the closed-end fund’s stock worth $8,297,000 after buying an additional 275,786 shares in the last quarter. Jane Street Group LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% during the 3rd quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock worth $11,667,000 after buying an additional 270,153 shares in the last quarter. City of London Investment Management Co. Ltd. raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.3% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 260,985 shares of the closed-end fund’s stock worth $4,327,000 after buying an additional 60,734 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 2nd quarter worth approximately $953,000. Finally, NewEdge Advisors LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 153.2% during the 2nd quarter. NewEdge Advisors LLC now owns 88,864 shares of the closed-end fund’s stock worth $1,473,000 after buying an additional 53,767 shares in the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1 %

MMD traded down $0.02 on Monday, hitting $16.08. 69,534 shares of the company traded hands, compared to its average volume of 72,139. The company has a 50 day moving average of $16.56 and a 200-day moving average of $16.58. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $15.70 and a 12-month high of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 4.48%. The ex-dividend date was Thursday, November 21st.

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.