MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 82.4% in February

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant decrease in short interest in February. As of February 15th, there was short interest totalling 6,400 shares, a decrease of 82.4% from the January 31st total of 36,300 shares. Based on an average daily volume of 139,900 shares, the short-interest ratio is presently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

NYSE:MMD traded down $0.04 on Thursday, reaching $15.51. The stock had a trading volume of 55,031 shares, compared to its average volume of 97,103. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $14.53 and a 12-month high of $17.00. The firm’s fifty day moving average is $15.17 and its two-hundred day moving average is $16.05.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.06 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.72 annualized dividend and a yield of 4.64%.

Insiders Place Their Bets

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager John J. Lawlor bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was purchased at an average price of $14.74 per share, for a total transaction of $29,480.00. Following the completion of the purchase, the portfolio manager now directly owns 4,500 shares in the company, valued at $66,330. This trade represents a 80.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Portfolio Manager David Dowden acquired 3,300 shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $14.92 per share, with a total value of $49,236.00. Following the purchase, the portfolio manager now owns 3,300 shares of the company’s stock, valued at $49,236. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in 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 purchasing an additional 1,018 shares during the last quarter. Rovin Capital UT ADV increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.0% during the 4th quarter. Rovin Capital UT ADV now owns 28,114 shares of the closed-end fund’s stock valued at $420,000 after acquiring an additional 1,091 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 12.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 18,849 shares of the closed-end fund’s stock worth $281,000 after acquiring an additional 2,081 shares during the period. ProVise Management Group LLC boosted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.9% in the fourth quarter. ProVise Management Group LLC now owns 89,347 shares of the closed-end fund’s stock worth $1,334,000 after acquiring an additional 3,378 shares during the last quarter. Finally, Summit X LLC grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 19.2% in the fourth quarter. Summit X LLC now owns 24,741 shares of the closed-end fund’s stock valued at $369,000 after purchasing an additional 3,983 shares during the period.

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.