MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.02 and traded as high as $15.17. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.1150, with a volume of 71,465 shares trading hands.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.3%

The firm has a 50 day moving average price of $15.02 and a 200-day moving average price of $14.74.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Institutional investors have recently modified their holdings of the stock. Thomas J. Herzfeld Advisors Inc. lifted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 27.6% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 71,859 shares of the closed-end fund’s stock valued at $1,084,000 after purchasing an additional 15,531 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at approximately $242,000. LPL Financial LLC lifted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 50.7% in the 1st quarter. LPL Financial LLC now owns 118,799 shares of the closed-end fund’s stock valued at $1,791,000 after purchasing an additional 39,990 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at approximately $190,000. Finally, AlphaCore Capital LLC purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter worth approximately $190,000.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.