MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Sees Significant Decline in Short Interest

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 31,600 shares, a decline of 28.2% from the February 28th total of 44,000 shares. Based on an average daily volume of 213,800 shares, the short-interest ratio is presently 0.1 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Trading Up 0.4 %

NYSE MEGI traded up $0.05 during mid-day trading on Monday, hitting $13.30. The company’s stock had a trading volume of 123,216 shares, compared to its average volume of 156,337. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 52-week low of $11.28 and a 52-week high of $14.96. The stock’s fifty day simple moving average is $12.69 and its two-hundred day simple moving average is $13.25.

MainStay CBRE Global Infrastructure Megatrends Term Fund Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 25th will be issued a $0.125 dividend. This is an increase from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous dividend of $0.11. This represents a yield of 11.4%. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEGI. Raymond James Financial Inc. purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter valued at approximately $24,620,000. Absolute Investment Advisers LLC acquired a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund during the 4th quarter valued at $5,410,000. Comerica Bank increased its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 2,989.0% during the 4th quarter. Comerica Bank now owns 274,365 shares of the company’s stock worth $3,339,000 after buying an additional 265,483 shares during the period. Almitas Capital LLC acquired a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter worth $1,958,000. Finally, Wolverine Asset Management LLC boosted its position in MainStay CBRE Global Infrastructure Megatrends Term Fund by 298.7% in the 4th quarter. Wolverine Asset Management LLC now owns 153,004 shares of the company’s stock valued at $1,862,000 after buying an additional 114,624 shares during the last quarter.

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.