MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 20,832 shares, a decrease of 41.3% from the May 31st total of 35,487 shares. Based on an average daily trading volume, of 50,466 shares, the short-interest ratio is presently 0.4 days.
Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund
A number of institutional investors have recently modified their holdings of MMD. Fifth Third Bancorp purchased a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at about $54,000. Kestra Advisory Services LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth $96,000. Pasadena Private Wealth LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at about $149,000. Financially in Tune LLC purchased a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the fourth quarter valued at about $155,000. Finally, Rareview Capital LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth $159,000.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.2%
Shares of NYSE:MMD traded down $0.04 on Thursday, hitting $15.44. 33,543 shares of the company’s stock were exchanged, compared to its average volume of 59,572. The firm’s 50-day moving average is $15.23 and its 200 day moving average is $15.21. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.39 and a 1-year high of $15.82.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend
About MainStay MacKay DefinedTerm Municipal Opportunities Fund
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.
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