MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 59.4% in February

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 2,600 shares, a decrease of 59.4% from the February 13th total of 6,400 shares. Based on an average trading volume of 132,200 shares, the days-to-cover ratio is presently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.4 %

Shares of NYSE:MMD traded down $0.06 during midday trading on Friday, reaching $15.07. 44,458 shares of the company’s stock traded hands, compared to its average volume of 88,862. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.53 and a 1 year high of $17.00. The company has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $15.94.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, March 14th.

Insider Activity

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager David Dowden purchased 3,300 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $14.92 per share, for a total transaction of $49,236.00. Following the acquisition, the portfolio manager now owns 3,300 shares in the company, valued at $49,236. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Portfolio Manager John J. Lawlor purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was acquired at an average price of $14.74 per share, for a total transaction of $29,480.00. Following 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 position. The disclosure for this purchase can be found here.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at about $70,000. Wolverine Asset Management LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at approximately $112,000. XTX Topco Ltd purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $189,000. Commonwealth Equity Services LLC boosted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,750 shares of the closed-end fund’s stock valued at $190,000 after buying an additional 1,018 shares in the last quarter. Finally, Integrated Capital Management Inc. purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $204,000.

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.