MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Up 137.2% in October

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 49,100 shares, a growth of 137.2% from the October 15th total of 20,700 shares. Based on an average daily volume of 87,500 shares, the days-to-cover ratio is currently 0.6 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1 %

MMD traded down $0.02 during midday trading on Wednesday, hitting $16.67. The stock had a trading volume of 173,012 shares, compared to its average volume of 69,405. The business has a fifty day moving average of $16.77 and a 200 day moving average of $16.58. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $15.47 and a 1 year high of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, November 21st.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of large investors have recently added to or reduced their stakes in MMD. Almitas Capital LLC increased its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.8% during the 2nd quarter. Almitas Capital LLC now owns 500,407 shares of the closed-end fund’s stock valued at $8,297,000 after purchasing an additional 275,786 shares during the period. City of London Investment Management Co. Ltd. increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 260,985 shares of the closed-end fund’s stock valued at $4,327,000 after buying an additional 60,734 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter valued at approximately $953,000. NewEdge Advisors LLC lifted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 153.2% in the second quarter. NewEdge Advisors LLC now owns 88,864 shares of the closed-end fund’s stock worth $1,473,000 after acquiring an additional 53,767 shares during the period. Finally, Cyndeo Wealth Partners LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 3rd quarter valued at $283,000.

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.