MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Trading Down 0.3%

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI)’s stock price traded down 0.3% during trading on Thursday . The company traded as low as $14.01 and last traded at $14.04. 110,047 shares were traded during mid-day trading, a decline of 22% from the average session volume of 140,688 shares. The stock had previously closed at $14.08.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 0.3 %

The firm’s fifty day moving average is $13.39 and its 200 day moving average is $12.84.

MainStay CBRE Global Infrastructure Megatrends Term Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 26th were given a $0.125 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.50 annualized dividend and a yield of 10.65%.

Insider Activity at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other news, major shareholder Saba Capital Management, L.P. bought 18,430 shares of MainStay CBRE Global Infrastructure Megatrends Term Fund stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $12.43 per share, with a total value of $229,084.90. Following the completion of the transaction, the insider now directly owns 5,729,702 shares in the company, valued at $71,220,195.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

Institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund during the first quarter worth about $146,000. Nomura Holdings Inc. acquired a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter worth $230,000. Quadrature Capital Ltd bought a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter worth $982,000. Steward Partners Investment Advisory LLC increased its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 36,105 shares of the company’s stock valued at $469,000 after buying an additional 1,725 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 20.4% in the fourth quarter. Wells Fargo & Company MN now owns 598,280 shares of the company’s stock valued at $7,766,000 after buying an additional 101,191 shares during the last quarter.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.