MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Share Price Passes Above 50-Day Moving Average of $16.29

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.29 and traded as high as $16.54. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $16.45, with a volume of 52,608 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

The stock’s 50-day moving average price is $16.29 and its 200-day moving average price is $16.33.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, June 14th. This represents a $0.72 annualized dividend and a yield of 4.38%.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. increased its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 100.0% during the 4th quarter. NBC Securities Inc. now owns 2,000 shares of the closed-end fund’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter valued at $82,000. Comerica Bank boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 16.7% during the 1st quarter. Comerica Bank now owns 7,000 shares of the closed-end fund’s stock valued at $114,000 after acquiring an additional 1,000 shares in the last quarter. Parallel Advisors LLC bought a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 4th quarter worth $134,000. Finally, Robinson Capital Management LLC acquired a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 4th quarter worth about $178,000.

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.