MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Announces Monthly Dividend of $0.13

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend on Friday, April 12th, investing.com reports. Stockholders of record on Monday, April 22nd will be given a dividend of 0.125 per share on Tuesday, April 30th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 13.03%. The ex-dividend date is Friday, April 19th. This is a boost from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous monthly dividend of $0.11.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 1.5 %

Shares of NYSE MEGI opened at $11.51 on Thursday. The firm’s fifty day moving average is $12.36 and its 200 day moving average is $12.37. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 52 week low of $10.63 and a 52 week high of $14.89.

Insider Buying and Selling at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other news, major shareholder Saba Capital Management, L.P. bought 22,144 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was bought at an average cost of $12.30 per share, for a total transaction of $272,371.20. Following the completion of the acquisition, the insider now owns 5,507,053 shares in the company, valued at approximately $67,736,751.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its position in MainStay CBRE Global Infrastructure Megatrends Term Fund by 14.0% during the 3rd quarter. LPL Financial LLC now owns 28,338 shares of the company’s stock valued at $334,000 after purchasing an additional 3,485 shares during the period. Pathstone Family Office LLC bought a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the 3rd quarter valued at about $327,000. Captrust Financial Advisors purchased a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the second quarter valued at about $318,000. Nomura Holdings Inc. bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter worth about $230,000. Finally, Jane Street Group LLC bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the second quarter worth about $214,000.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.