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

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 31,600 shares, a decline of 28.2% from the February 28th total of 44,000 shares. Based on an average daily volume of 213,800 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEGI. Choreo LLC lifted its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 7.5% during the fourth quarter. Choreo LLC now owns 15,906 shares of the company’s stock worth $193,000 after purchasing an additional 1,103 shares during the last quarter. Sovereign Financial Group Inc. lifted its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 45.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 15,368 shares of the company’s stock worth $187,000 after buying an additional 4,820 shares during the last quarter. FCA Corp TX grew its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.0% in the 4th quarter. FCA Corp TX now owns 105,941 shares of the company’s stock worth $1,289,000 after acquiring an additional 5,087 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 8.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 71,297 shares of the company’s stock valued at $868,000 after acquiring an additional 5,678 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 8.3% during the 4th quarter. First Trust Advisors LP now owns 91,996 shares of the company’s stock valued at $1,120,000 after acquiring an additional 7,058 shares in the last quarter.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance

Shares of MEGI traded up $0.05 during trading on Monday, reaching $13.30. The company’s stock had a trading volume of 123,216 shares, compared to its average volume of 156,337. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $11.28 and a twelve month high of $14.96. The company has a fifty day moving average of $12.69 and a two-hundred day moving average of $13.25.

MainStay CBRE Global Infrastructure Megatrends Term Fund Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.125 per share. This represents a yield of 11.4%. This is an increase from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous dividend of $0.11. The ex-dividend date is Monday, March 24th.

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.