MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Crosses Above 50 Day Moving Average of $16.29

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.29 and traded as high as $16.54. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $16.45, with a volume of 52,608 shares traded.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.2 %

The stock’s 50 day moving average is $16.31 and its two-hundred day moving average is $16.34.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, June 14th.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank grew its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 16.7% in the first quarter. Comerica Bank now owns 7,000 shares of the closed-end fund’s stock valued at $114,000 after purchasing an additional 1,000 shares in the last quarter. ProVise Management Group LLC boosted its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 9.3% during the first quarter. ProVise Management Group LLC now owns 63,230 shares of the closed-end fund’s stock worth $1,034,000 after buying an additional 5,400 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 129,993 shares of the closed-end fund’s stock valued at $2,125,000 after buying an additional 5,582 shares in the last quarter. Rovin Capital UT ADV increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 26.1% in the 1st quarter. Rovin Capital UT ADV now owns 26,657 shares of the closed-end fund’s stock worth $436,000 after acquiring an additional 5,514 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.2% during the 1st quarter. Raymond James & Associates now owns 279,478 shares of the closed-end fund’s stock worth $4,569,000 after acquiring an additional 8,661 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.