MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Update

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 59,900 shares, a growth of 22.0% from the October 31st total of 49,100 shares. Based on an average daily volume of 106,500 shares, the short-interest ratio is presently 0.6 days.

Insider Buying and Selling at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager John J. Lawlor acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $15.79 per share, for a total transaction of $39,475.00. Following the acquisition, the portfolio manager now owns 2,500 shares in the company, valued at $39,475. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% during the 3rd quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock worth $11,667,000 after buying an additional 270,153 shares during the last quarter. Almitas Capital LLC grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.8% in the 2nd quarter. Almitas Capital LLC now owns 500,407 shares of the closed-end fund’s stock valued at $8,297,000 after purchasing an additional 275,786 shares during the last quarter. City of London Investment Management Co. Ltd. grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.3% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 260,985 shares of the closed-end fund’s stock valued at $4,327,000 after purchasing an additional 60,734 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 153.2% in the 2nd quarter. NewEdge Advisors LLC now owns 88,864 shares of the closed-end fund’s stock valued at $1,473,000 after purchasing an additional 53,767 shares during the last quarter. Finally, ProVise Management Group LLC grew its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 24.5% in the 2nd quarter. ProVise Management Group LLC now owns 78,719 shares of the closed-end fund’s stock valued at $1,305,000 after purchasing an additional 15,489 shares during the last quarter.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.2 %

Shares of MMD traded down $0.03 during mid-day trading on Monday, reaching $16.07. The company’s stock had a trading volume of 5,276 shares, compared to its average volume of 71,849. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12-month low of $15.70 and a 12-month high of $17.00. The company’s 50 day moving average is $16.56 and its 200 day moving average is $16.58.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 21st were issued a $0.06 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.48%.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.