MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Short Interest Down 28.2% in March

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 31,600 shares, a decrease of 28.2% from the February 28th total of 44,000 shares. Based on an average daily volume of 213,800 shares, the days-to-cover ratio is presently 0.1 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

Shares of MEGI stock traded down $0.07 during mid-day trading on Friday, hitting $13.24. 152,597 shares of the company’s stock were exchanged, compared to its average volume of 156,469. MainStay CBRE Global Infrastructure Megatrends Term Fund has a fifty-two week low of $11.28 and a fifty-two week high of $14.96. The stock has a 50-day simple moving average of $12.68 and a two-hundred day simple moving average of $13.27.

MainStay CBRE Global Infrastructure Megatrends Term Fund Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th will be issued a $0.125 dividend. This is a boost from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous dividend of $0.11. The ex-dividend date of this dividend is Monday, March 24th. This represents a yield of 11.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MEGI. HighTower Advisors LLC acquired a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter valued at about $122,000. Vista Investment Partners II LLC acquired a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter valued at approximately $136,000. XTX Topco Ltd purchased a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund during the third quarter worth approximately $151,000. Integrated Wealth Concepts LLC acquired a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter worth $183,000. Finally, Aptus Capital Advisors LLC acquired a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter worth $183,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.