Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Increases By 83.7%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 18,000 shares, a growth of 83.7% from the March 15th total of 9,800 shares. Based on an average trading volume of 86,900 shares, the days-to-cover ratio is presently 0.2 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.6 %

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.09 during trading hours on Wednesday, reaching $14.22. 62,797 shares of the stock were exchanged, compared to its average volume of 90,579. The stock has a 50 day moving average of $15.12 and a two-hundred day moving average of $15.60. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.00 and a twelve month high of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Tuesday, April 15th.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager David Dowden purchased 3,300 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $14.92 per share, with a total value of $49,236.00. Following the acquisition, the portfolio manager now owns 3,300 shares in the company, valued at approximately $49,236. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 200.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 359,982 shares of the closed-end fund’s stock valued at $5,429,000 after buying an additional 240,071 shares during the period. Raymond James Financial Inc. bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth $3,310,000. Envestnet Asset Management Inc. bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at about $1,383,000. Intellus Advisors LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $1,335,000. Finally, Park Avenue Securities LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $1,303,000.

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.