MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 59,900 shares, an increase of 22.0% from the October 31st total of 49,100 shares. Based on an average daily volume of 106,500 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling

In related news, Portfolio Manager John J. Lawlor purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $15.79 per share, with a total value of $39,475.00. Following the completion of the acquisition, the portfolio manager now directly owns 2,500 shares in the company, valued at $39,475. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors have recently added to or reduced their stakes in MMD. Almitas Capital LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.8% in the second quarter. Almitas Capital LLC now owns 500,407 shares of the closed-end fund’s stock valued at $8,297,000 after purchasing an additional 275,786 shares during the last quarter. Jane Street Group LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% in the third quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock valued at $11,667,000 after purchasing an additional 270,153 shares during the last quarter. City of London Investment Management Co. Ltd. increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.3% in the second quarter. City of London Investment Management Co. Ltd. now owns 260,985 shares of the closed-end fund’s stock valued at $4,327,000 after purchasing an additional 60,734 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter worth about $953,000. Finally, NewEdge Advisors LLC increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 153.2% during the second quarter. NewEdge Advisors LLC now owns 88,864 shares of the closed-end fund’s stock worth $1,473,000 after acquiring an additional 53,767 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of NYSE MMD traded down $0.03 during trading on Monday, reaching $16.07. The company had a trading volume of 5,276 shares, compared to its average volume of 71,849. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $15.70 and a twelve month high of $17.00. The stock has a 50-day moving average price of $16.56 and a two-hundred day moving average price of $16.58.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 21st were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.72 annualized dividend and a yield of 4.48%.

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.