MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Distribute Monthly Dividend of $0.07 on November 2nd

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Thursday, October 1st. Investors of record on Thursday, October 15th will be paid a dividend of $0.0675 per share by the closed-end fund on Monday, November 2nd. This represents a $0.81 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Thursday, October 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of NYSE:MMD opened at $13.77 on Friday. The stock’s fifty day simple moving average is $14.62 and its two-hundred day simple moving average is $14.98. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $13.24 and a 1-year high of $15.82.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently modified their holdings of MMD. Robinson Capital Management LLC grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% in the 2nd quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock worth $7,110,000 after acquiring an additional 26,190 shares during the last quarter. Arlington Capital Management Inc. raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.2% during the second quarter. Arlington Capital Management Inc. now owns 18,694 shares of the closed-end fund’s stock valued at $290,000 after acquiring an additional 1,253 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.6% during the second quarter. NewEdge Advisors LLC now owns 103,674 shares of the closed-end fund’s stock valued at $1,607,000 after acquiring an additional 6,454 shares during the last quarter. 1607 Capital Partners LLC boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.2% during the second quarter. 1607 Capital Partners LLC now owns 50,886 shares of the closed-end fund’s stock worth $789,000 after purchasing an additional 11,798 shares during the period. Finally, Hopwood Nicholas Hunter purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the second quarter worth about $940,000.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.

The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.