MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Price Passes Below 200 Day Moving Average Following Insider Selling

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMDGet Rating)’s stock price passed below its 200-day moving average during trading on Thursday after an insider sold shares in the company. The stock has a 200-day moving average of $17.40 and traded as low as $16.32. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $16.52, with a volume of 212,048 shares changing hands.

Specifically, Portfolio Manager Michael Petty sold 1,709 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $16.15, for a total transaction of $27,600.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The business’s fifty day moving average price is $15.90 and its two-hundred day moving average price is $17.40.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a $0.085 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $1.02 annualized dividend and a yield of 6.17%.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds and other institutional investors have recently bought and sold shares of MMD. Robinson Capital Management LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at about $66,000. IFP Advisors Inc bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at approximately $68,000. Parallel Advisors LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4,555.7% in the second quarter. Parallel Advisors LLC now owns 4,516 shares of the closed-end fund’s stock valued at $82,000 after purchasing an additional 4,419 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at approximately $101,000. Finally, Syverson Strege & Co boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 27.3% in the second quarter. Syverson Strege & Co now owns 6,283 shares of the closed-end fund’s stock valued at $114,000 after buying an additional 1,348 shares during the period.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

(Get Rating)

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.

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