MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) declared a monthly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Tuesday, April 16th will be paid a dividend of 0.06 per share by the closed-end fund on Tuesday, April 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, April 15th.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance
Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock opened at $16.24 on Friday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 12 month low of $14.30 and a 12 month high of $17.67. The stock’s fifty day moving average price is $16.39 and its 200-day moving average price is $15.95.
Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 1.6% during the first quarter. Bank of America Corp DE now owns 980,843 shares of the closed-end fund’s stock valued at $17,047,000 after purchasing an additional 15,385 shares in the last quarter. UBS Group AG boosted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 26.2% during the first quarter. UBS Group AG now owns 317,963 shares of the closed-end fund’s stock valued at $5,962,000 after purchasing an additional 66,039 shares in the last quarter. Advisors Asset Management Inc. boosted its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 14.7% during the first quarter. Advisors Asset Management Inc. now owns 279,142 shares of the closed-end fund’s stock valued at $4,851,000 after purchasing an additional 35,702 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.6% in the third quarter. Ameriprise Financial Inc. now owns 237,996 shares of the closed-end fund’s stock worth $3,791,000 after acquiring an additional 18,796 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 15.6% in the first quarter. Royal Bank of Canada now owns 232,292 shares of the closed-end fund’s stock worth $4,356,000 after acquiring an additional 31,425 shares in the last quarter.
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.
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