MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) to Issue Dividend Increase – $0.07 Per Share

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Wednesday, April 1st. Shareholders of record on Wednesday, April 15th will be paid a dividend of 0.0675 per share by the closed-end fund on Friday, May 1st. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 15th. This is a 3.8% increase from MainStay MacKay DefinedTerm Municipal Opportunities Fund’s previous monthly dividend of $0.07.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.1%

Shares of NYSE:MMD traded down $0.01 during trading hours on Monday, hitting $15.16. 7,564 shares of the company’s stock traded hands, compared to its average volume of 62,880. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.00 and a 1 year high of $15.82. The business has a fifty day moving average price of $15.28 and a 200-day moving average price of $15.13.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

The MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end, diversified management investment company that seeks to provide a high level of tax-exempt income. The fund primarily invests in investment-grade municipal securities, including general obligation bonds, revenue bonds and other state and local government obligations. By focusing on tax-exempt instruments, MMD aims to enhance after-tax yields for its shareholders, making it an option for investors in higher tax brackets who seek municipal bond exposure through a publicly traded vehicle.

As a defined-term fund, MMD was structured with a predetermined termination date at which point the portfolio is expected to be liquidated and proceeds returned to investors.