MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Monthly Dividend of $0.06 (NYSE:MMD)

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.06 per share by the closed-end fund on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, March 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.17 during midday trading on Tuesday, reaching $15.38. The company had a trading volume of 78,591 shares, compared to its average volume of 95,068. The stock has a fifty day simple moving average of $15.22 and a 200 day simple moving average of $16.02. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.53 and a 1-year high of $17.00.

Insider Activity

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager David Dowden bought 3,300 shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $14.92 per share, with a total value of $49,236.00. Following the purchase, the portfolio manager now owns 3,300 shares of the company’s stock, valued at $49,236. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Portfolio Manager John J. Lawlor purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were acquired at an average cost of $14.74 per share, with a total value of $29,480.00. Following the completion of the purchase, the portfolio manager now owns 4,500 shares of the company’s stock, valued at $66,330. The trade was a 80.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.