Short Interest in MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Rises By 83.7%

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 18,000 shares, an increase of 83.7% from the March 15th total of 9,800 shares. Based on an average trading volume of 86,900 shares, the days-to-cover ratio is currently 0.2 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded up $0.04 on Friday, hitting $14.24. The company’s stock had a trading volume of 56,389 shares, compared to its average volume of 90,668. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.00 and a 1 year high of $17.00. The firm has a fifty day moving average price of $15.07 and a 200-day moving average price of $15.57.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Tuesday, April 15th.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several large investors have recently made changes to their positions in MMD. Hennion & Walsh Asset Management Inc. lifted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 200.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 359,982 shares of the closed-end fund’s stock valued at $5,429,000 after acquiring an additional 240,071 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $3,310,000. Envestnet Asset Management Inc. purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter worth approximately $1,383,000. Intellus Advisors LLC purchased a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter valued at approximately $1,335,000. Finally, Park Avenue Securities LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter valued at $1,303,000.

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.