MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Shares Cross Above 50-Day Moving Average – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.96 and traded as high as $15.26. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.2150, with a volume of 31,808 shares trading hands.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The business’s 50 day moving average is $14.96 and its two-hundred day moving average is $14.90.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $0.065 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 5.1%.

Insider Activity

In related news, Portfolio Manager Robert A. Dimella sold 11,965 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $14.84, for a total transaction of $177,560.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 3rd quarter worth approximately $184,000. Cyndeo Wealth Partners LLC lifted its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock valued at $200,000 after acquiring an additional 1,072 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 2nd quarter valued at $222,000. Arlington Capital Management Inc. bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the third quarter worth $242,000. Finally, Integrated Capital Management Inc. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 23.9% in the second quarter. Integrated Capital Management Inc. now owns 22,462 shares of the closed-end fund’s stock worth $332,000 after purchasing an additional 4,327 shares during the period.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

The MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end, diversified management investment company that seeks to provide a high level of tax-exempt income. The fund primarily invests in investment-grade municipal securities, including general obligation bonds, revenue bonds and other state and local government obligations. By focusing on tax-exempt instruments, MMD aims to enhance after-tax yields for its shareholders, making it an option for investors in higher tax brackets who seek municipal bond exposure through a publicly traded vehicle.

As a defined-term fund, MMD was structured with a predetermined termination date at which point the portfolio is expected to be liquidated and proceeds returned to investors.