MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Declares $0.13 Monthly Dividend

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend on Monday, September 16th, NASDAQ reports. Shareholders of record on Thursday, September 26th will be given a dividend of 0.125 per share on Monday, September 30th. This represents a $1.50 dividend on an annualized basis and a yield of 10.30%. The ex-dividend date is Thursday, September 26th.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance

Shares of NYSE MEGI traded up $0.19 during mid-day trading on Monday, hitting $14.56. 114,194 shares of the stock were exchanged, compared to its average volume of 138,495. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $10.63 and a twelve month high of $14.57. The stock’s fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $12.91.

Insider Activity

In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, major shareholder Saba Capital Management, L.P. purchased 18,430 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $12.43 per share, with a total value of $229,084.90. Following the transaction, the insider now directly owns 5,729,702 shares of the company’s stock, valued at approximately $71,220,195.86. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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.