Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Declines By 24.9%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large drop in short interest in May. As of May 31st, there was short interest totalling 23,500 shares, a drop of 24.9% from the May 15th total of 31,300 shares. Based on an average daily volume of 71,200 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of large investors have recently made changes to their positions in MMD. Walleye Capital LLC purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $246,000. NewEdge Advisors LLC lifted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 36.6% during the fourth quarter. NewEdge Advisors LLC now owns 133,435 shares of the closed-end fund’s stock valued at $1,992,000 after purchasing an additional 35,743 shares during the period. Commonwealth Equity Services LLC boosted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,750 shares of the closed-end fund’s stock valued at $190,000 after purchasing an additional 1,018 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth about $324,000. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth about $841,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

NYSE:MMD opened at $14.53 on Wednesday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.00 and a twelve month high of $17.00. The company’s 50 day moving average is $14.52 and its two-hundred day moving average is $14.98.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 4.96%.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S.