MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Sees Large Decrease in Short Interest

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 19,673 shares, a drop of 53.1% from the November 30th total of 41,926 shares. Based on an average daily volume of 208,637 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 208,637 shares, the days-to-cover ratio is currently 0.1 days.

Insider Buying and Selling

In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, Portfolio Manager Jeremy Anagnos sold 8,000 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $14.87, for a total value of $118,960.00. Following the completion of the sale, the portfolio manager directly owned 20,000 shares in the company, valued at $297,400. This represents a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

Hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 3rd quarter valued at about $1,033,000. Mariner LLC grew its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 39.9% during the third quarter. Mariner LLC now owns 21,499 shares of the company’s stock worth $316,000 after purchasing an additional 6,129 shares in the last quarter. Millennium Management LLC purchased a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the third quarter valued at $734,000. Bank of America Corp DE raised its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 7.9% in the third quarter. Bank of America Corp DE now owns 724,116 shares of the company’s stock valued at $10,630,000 after buying an additional 52,948 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.1% during the 3rd quarter. Raymond James Financial Inc. now owns 2,465,902 shares of the company’s stock worth $36,199,000 after buying an additional 120,525 shares during the last quarter.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance

Shares of NYSE MEGI traded down $0.04 during mid-day trading on Friday, reaching $13.75. 243,279 shares of the company’s stock were exchanged, compared to its average volume of 167,782. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 52-week low of $11.40 and a 52-week high of $15.05. The company’s 50-day moving average is $14.03 and its 200-day moving average is $14.26.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 23rd will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a c) dividend on an annualized basis and a yield of 10.9%.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) is a closed-end term fund that seeks to deliver total return through a combination of income and capital appreciation by investing primarily in global infrastructure securities. The fund targets companies involved in the development, ownership, or operation of transportation networks, energy and utility systems, digital infrastructure and related megatrends. By focusing on essential assets that underpin long-term economic growth, MEGI aims to generate a stable income stream while capturing opportunities for capital gains.

Launched in 2021, MEGI employs a thematic investment approach managed by CBRE Clarion Securities’ dedicated infrastructure equity team.