MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Sees Large Drop in Short Interest

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the recipient of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 2,181 shares, a decline of 93.1% from the October 15th total of 31,602 shares. Based on an average daily volume of 96,000 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MMD. Kelleher Financial Advisors grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% in the 2nd quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock valued at $29,000 after acquiring an additional 920 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,242 shares of the closed-end fund’s stock worth $174,000 after buying an additional 1,034 shares during the period. Arlington Capital Management Inc. lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.2% during the 2nd quarter. Arlington Capital Management Inc. now owns 18,694 shares of the closed-end fund’s stock valued at $290,000 after buying an additional 1,253 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% during the 1st quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock valued at $1,444,000 after buying an additional 1,281 shares in the last quarter. Finally, Ackerman Capital Advisors LLC boosted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.4% in the 3rd quarter. Ackerman Capital Advisors LLC now owns 47,931 shares of the closed-end fund’s stock valued at $652,000 after buying an additional 1,567 shares during the period.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1%

NYSE MMD traded down $0.01 on Wednesday, hitting $14.03. 96,528 shares of the stock were exchanged, compared to its average volume of 66,717. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $13.24 and a 52-week high of $15.82. The stock has a fifty day moving average price of $14.06 and a two-hundred day moving average price of $14.92.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be paid a $0.0675 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.81 annualized dividend and a yield of 5.8%.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities. The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities. Its investments can support a range of public projects and services, including education, transportation, health care, utilities and housing.