MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) to Issue Monthly Dividend of $0.13

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) declared a monthly dividend on Monday, September 16th, NASDAQ reports. Stockholders of record on Thursday, September 26th will be paid a dividend of 0.125 per share on Monday, September 30th. This represents a $1.50 annualized dividend and a dividend yield of 10.30%. The ex-dividend date is Thursday, September 26th.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance

Shares of MEGI opened at $14.56 on Tuesday. The company’s fifty day simple moving average is $13.58 and its 200 day simple moving average is $12.92. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 1-year low of $10.63 and a 1-year high of $14.57.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 18,430 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $12.43 per share, with a total value of $229,084.90. Following the acquisition, 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 SEC, which is available through this hyperlink.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

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.