Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Grows By 63.4%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 11,526 shares, an increase of 63.4% from the July 15th total of 7,055 shares. Based on an average daily trading volume, of 33,580 shares, the short-interest ratio is currently 0.3 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded up $0.09 during mid-day trading on Wednesday, hitting $15.09. 27,008 shares of the stock were exchanged, compared to its average volume of 57,836. The company has a 50-day simple moving average of $15.22 and a 200 day simple moving average of $15.23. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.40 and a 12 month high of $15.82.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0675 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 15th.

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% during the second quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock worth $29,000 after buying an additional 920 shares in the last quarter. Fifth Third Bancorp bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter worth approximately $54,000. Kestra Advisory Services LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth approximately $96,000. Pasadena Private Wealth LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter worth $149,000. Finally, Financially in Tune LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at about $155,000.

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.