MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Down 41.3% in June

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 20,832 shares, a decline of 41.3% from the May 31st total of 35,487 shares. Based on an average daily volume of 50,466 shares, the short-interest ratio is presently 0.4 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1%

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.01 on Wednesday, hitting $15.49. The stock had a trading volume of 68,457 shares, compared to its average volume of 59,782. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $14.39 and a 52-week high of $15.82. The company’s 50 day moving average price is $15.23 and its 200 day moving average price is $15.21.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.0675 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 5.2%.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently modified their holdings of MMD. Fifth Third Bancorp acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at $54,000. Kestra Advisory Services LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth $96,000. Pasadena Private Wealth LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $149,000. Financially in Tune LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at $155,000. Finally, Rareview Capital LLC purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at about $159,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.