MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) to Issue $0.06 Monthly Dividend

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.06 per share by the closed-end fund on Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, March 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.17 during midday trading on Tuesday, reaching $15.38. The company had a trading volume of 78,591 shares, compared to its average volume of 95,068. The stock has a fifty day moving average price of $15.22 and a 200 day moving average price of $16.02. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.53 and a fifty-two week high of $17.00.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager John J. Lawlor bought 2,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was acquired at an average price of $14.74 per share, with a total value of $29,480.00. Following the completion of the purchase, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at approximately $66,330. This represents a 80.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Portfolio Manager David Dowden bought 3,300 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $14.92 per share, for a total transaction of $49,236.00. Following the acquisition, the portfolio manager now owns 3,300 shares of the company’s stock, valued at $49,236. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.