MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Large Growth in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,000 shares, an increase of 400.0% from the December 15th total of 200 shares. Based on an average daily trading volume, of 154,600 shares, the short-interest ratio is currently 0.0 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.7 %

MMD stock traded down $0.11 during trading on Monday, reaching $14.63. The company’s stock had a trading volume of 168,344 shares, compared to its average volume of 108,449. The company’s fifty day moving average is $15.63 and its 200-day moving average is $16.33. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.53 and a 1 year high of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, January 15th.

Insider Buying and Selling at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In related news, Portfolio Manager John J. Lawlor acquired 2,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $15.79 per share, with a total value of $39,475.00. Following the transaction, the portfolio manager now directly owns 2,500 shares in the company, valued at approximately $39,475. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MMD. Future Financial Wealth Managment LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 3rd quarter valued at about $84,000. Wolverine Asset Management LLC purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter worth about $112,000. Cyndeo Wealth Partners LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the third quarter valued at approximately $283,000. Stifel Financial Corp grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 9.3% during the 3rd quarter. Stifel Financial Corp now owns 48,556 shares of the closed-end fund’s stock valued at $819,000 after buying an additional 4,130 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 2nd quarter worth approximately $953,000.

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.