Short Interest in MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Expands By 130.7%

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 72,900 shares, a growth of 130.7% from the March 15th total of 31,600 shares. Based on an average daily trading volume, of 186,600 shares, the short-interest ratio is presently 0.4 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Trading Up 1.3 %

Shares of NYSE:MEGI opened at $12.98 on Wednesday. The business’s 50-day simple moving average is $12.70 and its 200 day simple moving average is $13.09. MainStay CBRE Global Infrastructure Megatrends Term Fund has a one year low of $11.28 and a one year high of $14.96.

MainStay CBRE Global Infrastructure Megatrends Term Fund Increases Dividend

The company also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, March 24th. This is an increase from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous dividend of $0.11. This represents a dividend yield of 11.4%.

Institutional Investors Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

Large investors have recently added to or reduced their stakes in the company. Choreo LLC grew its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 7.5% during the fourth quarter. Choreo LLC now owns 15,906 shares of the company’s stock valued at $193,000 after acquiring an additional 1,103 shares in the last quarter. Sovereign Financial Group Inc. boosted its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 45.7% in the fourth quarter. Sovereign Financial Group Inc. now owns 15,368 shares of the company’s stock valued at $187,000 after purchasing an additional 4,820 shares during the last quarter. FCA Corp TX increased its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.0% during the 4th quarter. FCA Corp TX now owns 105,941 shares of the company’s stock worth $1,289,000 after purchasing an additional 5,087 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 8.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 71,297 shares of the company’s stock valued at $868,000 after purchasing an additional 5,678 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 8.3% during the 4th quarter. First Trust Advisors LP now owns 91,996 shares of the company’s stock valued at $1,120,000 after buying an additional 7,058 shares during the last quarter.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

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.