MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 59.4% in February

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 2,600 shares, a decrease of 59.4% from the February 13th total of 6,400 shares. Based on an average daily volume of 132,200 shares, the short-interest ratio is presently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.3 %

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.05 during midday trading on Thursday, hitting $15.12. 15,988 shares of the stock were exchanged, compared to its average volume of 88,793. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $14.53 and a 52-week high of $17.00. The business’s 50-day moving average price is $15.28 and its 200-day moving average price is $15.96.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, March 14th.

Insiders Place Their Bets

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

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% in the 3rd quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock valued at $11,667,000 after acquiring an additional 270,153 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at approximately $3,310,000. NewEdge Advisors LLC lifted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 36.6% during the 4th quarter. NewEdge Advisors LLC now owns 133,435 shares of the closed-end fund’s stock valued at $1,992,000 after buying an additional 35,743 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $1,790,000. Finally, Envestnet Asset Management Inc. purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at approximately $1,383,000.

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.