MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.96 and traded as high as $15.12. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.10, with a volume of 41,172 shares traded.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

The business’s fifty day moving average is $14.96 and its two-hundred day moving average is $14.71.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

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

Hedge Funds Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Plancorp LLC raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 41.6% in the 3rd quarter. Plancorp LLC now owns 23,807 shares of the closed-end fund’s stock worth $360,000 after acquiring an additional 7,000 shares during the last quarter. Cyndeo Wealth Partners LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock worth $200,000 after purchasing an additional 1,072 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 26.8% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 19,026 shares of the closed-end fund’s stock worth $288,000 after purchasing an additional 4,026 shares during the period. Centaurus Financial Inc. bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 2nd quarter worth approximately $417,000. Finally, Bank of America Corp DE grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 326,646 shares of the closed-end fund’s stock worth $4,831,000 after purchasing an additional 13,581 shares during the period.

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.