MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 14,948 shares, a growth of 61.9% from the August 31st total of 9,231 shares. Based on an average daily volume of 59,308 shares, the short-interest ratio is presently 0.3 days.
Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund
A number of institutional investors and hedge funds have recently modified their holdings of the business. Kelleher Financial Advisors boosted its position in 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 worth $29,000 after purchasing an additional 920 shares during the last quarter. ProVise Management Group LLC raised its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.7% during the 2nd quarter. ProVise Management Group LLC now owns 103,033 shares of the closed-end fund’s stock worth $1,597,000 after purchasing an additional 7,357 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 10.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,242 shares of the closed-end fund’s stock worth $174,000 after buying an additional 1,034 shares during the last quarter. Noble Wealth Management PBC boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.9% in the 2nd quarter. Noble Wealth Management PBC now owns 124,708 shares of the closed-end fund’s stock worth $1,933,000 after buying an additional 4,708 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.3% during the first quarter. NewEdge Advisors LLC now owns 97,220 shares of the closed-end fund’s stock valued at $1,444,000 after buying an additional 1,281 shares during the period.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance
NYSE:MMD remained flat at $13.61 on Thursday. 74,516 shares of the company’s stock traded hands, compared to its average volume of 62,571. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $13.24 and a 52-week high of $15.82. The firm’s 50-day simple moving average is $14.67 and its two-hundred day simple moving average is $15.00.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end investment fund that seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public entities across the United States.
The fund may invest in a broad range of municipal bonds, including general obligation and revenue bonds, and may hold securities with different maturities and credit ratings.
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