MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 4,234 shares, a drop of 63.3% from the July 30th total of 11,526 shares. Based on an average daily volume of 68,812 shares, the short-interest ratio is presently 0.1 days.
Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund
Several hedge funds have recently bought and sold shares of MMD. Kelleher Financial Advisors boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% in the second quarter. Kelleher Financial Advisors now owns 1,840 shares of the closed-end fund’s stock valued at $29,000 after buying an additional 920 shares during the period. Fifth Third Bancorp acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the first quarter worth $54,000. Kestra Advisory Services LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $96,000. Pasadena Private Wealth LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $149,000. Finally, Financially in Tune LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth $155,000.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance
MMD stock traded down $0.02 during midday trading on Friday, reaching $14.95. The stock had a trading volume of 27,830 shares, compared to its average volume of 57,206. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a twelve month low of $14.45 and a twelve month high of $15.82. The business has a fifty day simple moving average of $15.16 and a two-hundred day simple moving average of $15.20.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend
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.
Recommended Stories
- Five stocks we like better than MainStay MacKay DefinedTerm Municipal Opportunities Fund
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Receive News & Ratings for MainStay MacKay DefinedTerm Municipal Opportunities Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MainStay MacKay DefinedTerm Municipal Opportunities Fund and related companies with MarketBeat.com's FREE daily email newsletter.
