MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Plans $0.06 Monthly Dividend

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Tuesday, March 4th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.06 per share by the closed-end fund on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, March 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 1.1 %

MMD stock traded down $0.17 during midday trading on Tuesday, hitting $15.38. The stock had a trading volume of 78,591 shares, compared to its average volume of 95,068. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52 week low of $14.53 and a 52 week high of $17.00. The stock has a 50-day simple moving average of $15.22 and a 200 day simple moving average of $16.02.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In related news, Portfolio Manager John J. Lawlor bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was acquired at an average price of $14.74 per share, for a total transaction of $29,480.00. Following the transaction, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at $66,330. This represents a 80.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Portfolio Manager David Dowden purchased 3,300 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $14.92 per share, for a total transaction of $49,236.00. Following the purchase, the portfolio manager now owns 3,300 shares in the company, valued at $49,236. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.