MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Shares Down 0.2% – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD)’s stock price was down 0.2% on Monday. The company traded as low as $14.24 and last traded at $14.26. Approximately 107,954 shares were traded during mid-day trading, an increase of 63% from the average session volume of 66,237 shares. The stock had previously closed at $14.29.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The firm’s 50 day moving average is $14.06 and its 200-day moving average is $14.92.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be issued a $0.0675 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $0.81 annualized dividend and a yield of 5.8%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Robinson Capital Management LLC grew its position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 6.1% in the second quarter. Robinson Capital Management LLC now owns 458,692 shares of the closed-end fund’s stock valued at $7,110,000 after purchasing an additional 26,190 shares during the period. City of London Investment Management Co. Ltd. increased its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.6% in the third quarter. City of London Investment Management Co. Ltd. now owns 194,245 shares of the closed-end fund’s stock valued at $2,644,000 after purchasing an additional 106,978 shares during the last quarter. Noble Wealth Management PBC lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.9% during the second quarter. Noble Wealth Management PBC now owns 124,708 shares of the closed-end fund’s stock worth $1,933,000 after buying an additional 4,708 shares during the period. Advisors Asset Management Inc. purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the third quarter worth about $1,904,000. Finally, NewEdge Advisors LLC lifted its position in 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 worth $1,607,000 after buying an additional 6,454 shares during the period.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol MMD. The fund is designed to provide current income that is generally exempt from federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities. The fund’s portfolio may include investment-grade and below-investment-grade municipal bonds, as well as other tax-exempt securities. Its investments can support a range of public projects and services, including education, transportation, health care, utilities and housing.