MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Issue Monthly Dividend of $0.07 on September 1st

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Wednesday, July 1st. Shareholders of record on Friday, August 14th will be paid a dividend of 0.0675 per share by the closed-end fund on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Friday, August 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.2%

Shares of MMD opened at $15.44 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $14.39 and a 12-month high of $15.82. The firm’s 50 day moving average is $15.24 and its 200-day moving average is $15.21.

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.