MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Trading Down 0.3%

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI)’s share price dropped 0.3% during trading on Thursday . The company traded as low as $14.01 and last traded at $14.04. Approximately 110,047 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 140,688 shares. The stock had previously closed at $14.08.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 0.3 %

The stock has a 50 day simple moving average of $13.39 and a 200 day simple moving average of $12.84.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 26th were given a $0.125 dividend. This represents a $1.50 annualized dividend and a yield of 10.65%. The ex-dividend date was Monday, August 26th.

Insider Activity at MainStay CBRE Global Infrastructure Megatrends Term Fund

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

Institutional Investors Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 1.6% in the first quarter. Commonwealth Equity Services LLC now owns 60,628 shares of the company’s stock worth $762,000 after acquiring an additional 956 shares during the last quarter. City of London Investment Management Co. Ltd. lifted its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 0.5% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 349,998 shares of the company’s stock valued at $4,543,000 after purchasing an additional 1,612 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 36,105 shares of the company’s stock valued at $469,000 after purchasing an additional 1,725 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 13.6% in the second quarter. Capital Investment Advisors LLC now owns 16,750 shares of the company’s stock worth $215,000 after purchasing an additional 2,000 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the second quarter worth $48,000.

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.