MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Sees Large Increase in Short Interest

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 51,987 shares, a growth of 51.0% from the March 15th total of 34,436 shares. Based on an average trading volume of 199,796 shares, the days-to-cover ratio is currently 0.3 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

Shares of NYSE:MEGI opened at $15.15 on Thursday. The business’s 50 day simple moving average is $15.00 and its 200-day simple moving average is $14.42. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 12 month low of $12.85 and a 12 month high of $15.89.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be given a $0.125 dividend. The ex-dividend date is Friday, May 22nd. This represents a c) annualized dividend and a dividend yield of 9.9%.

Institutional Investors Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund

Several institutional investors and hedge funds have recently made changes to their positions in MEGI. Sit Investment Associates Inc. purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter worth about $9,998,000. Morgan Stanley boosted its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 11.3% in the 4th quarter. Morgan Stanley now owns 5,769,365 shares of the company’s stock worth $79,386,000 after buying an additional 584,119 shares in the last quarter. Absolute Investment Advisers LLC purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter worth about $4,511,000. Wolverine Asset Management LLC purchased a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter valued at approximately $3,555,000. Finally, Bank of America Corp DE lifted its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 28.9% in the 2nd quarter. Bank of America Corp DE now owns 671,168 shares of the company’s stock valued at $9,537,000 after buying an additional 150,317 shares in the last quarter.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) is a closed-end term fund that seeks to deliver total return through a combination of income and capital appreciation by investing primarily in global infrastructure securities. The fund targets companies involved in the development, ownership, or operation of transportation networks, energy and utility systems, digital infrastructure and related megatrends. By focusing on essential assets that underpin long-term economic growth, MEGI aims to generate a stable income stream while capturing opportunities for capital gains.

Launched in 2021, MEGI employs a thematic investment approach managed by CBRE Clarion Securities’ dedicated infrastructure equity team.