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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 9,800 shares, a growth of 276.9% from the February 28th total of 2,600 shares. Based on an average trading volume of 117,700 shares, the short-interest ratio is currently 0.1 days.

Insider Activity

In related news, 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 purchased at an average price of $14.74 per share, with a total value of $29,480.00. Following the purchase, the portfolio manager now owns 4,500 shares of the company’s stock, valued at $66,330. This trade represents a 80.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Portfolio Manager David Dowden purchased 3,300 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $14.92 per share, for a total transaction of $49,236.00. Following the acquisition, the portfolio manager now directly 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 disclosure for this purchase can be found here.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% during 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter valued at $3,310,000. NewEdge Advisors LLC increased its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 36.6% in the fourth quarter. NewEdge Advisors LLC now owns 133,435 shares of the closed-end fund’s stock worth $1,992,000 after acquiring an additional 35,743 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $1,790,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth $1,383,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of MMD stock traded down $0.05 on Thursday, reaching $15.17. 18,438 shares of the company’s stock traded hands, compared to its average volume of 89,173. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $14.53 and a 12-month high of $17.00. The business’s 50 day moving average price is $15.33 and its two-hundred day moving average price is $15.84.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 4.75%.

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.