MainStay CBRE Global Infrastructure Megatrends Term Fund Announces Monthly Dividend of $0.13 (NYSE:MEGI)

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) declared a monthly dividend on Tuesday, August 13th, Zacks reports. Investors of record on Monday, August 26th will be given a dividend of 0.125 per share on Friday, August 30th. This represents a $1.50 annualized dividend and a yield of 11.20%. The ex-dividend date of this dividend is Monday, August 26th.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

MEGI stock traded up $0.02 during mid-day trading on Thursday, reaching $13.39. The company had a trading volume of 24,752 shares, compared to its average volume of 144,004. The firm has a fifty day simple moving average of $13.00 and a 200 day simple moving average of $12.71. MainStay CBRE Global Infrastructure Megatrends Term Fund has a fifty-two week low of $10.63 and a fifty-two week high of $13.70.

Insider Buying and Selling

In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, major shareholder Saba Capital Management, L.P. bought 18,430 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $12.43 per share, with a total value of $229,084.90. Following the transaction, the insider now owns 5,729,702 shares of the company’s stock, valued at $71,220,195.86. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 67,228 shares of company stock worth $868,328.

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.