MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 19.9% in June

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 55,900 shares, a decline of 19.9% from the May 31st total of 69,800 shares. Based on an average daily trading volume, of 56,500 shares, the days-to-cover ratio is presently 1.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

NYSE:MMD opened at $16.58 on Friday. The business has a 50 day moving average of $16.31 and a 200 day moving average of $16.34. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.30 and a 1-year high of $17.32.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.06 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 4.34%.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.8% during the third quarter. Advisors Asset Management Inc. now owns 363,281 shares of the closed-end fund’s stock valued at $5,787,000 after buying an additional 26,187 shares during the period. Raymond James & Associates increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.2% during the first quarter. Raymond James & Associates now owns 279,478 shares of the closed-end fund’s stock valued at $4,569,000 after buying an additional 8,661 shares during the period. City of London Investment Management Co. Ltd. purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at approximately $3,465,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.5% during the first 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 during the period. Finally, ArchPoint Investors increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 34.3% during the fourth quarter. ArchPoint Investors now owns 109,514 shares of the closed-end fund’s stock valued at $1,780,000 after buying an additional 28,000 shares during the period.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.