MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) to Issue $0.06 Monthly Dividend

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Monday, July 1st, NASDAQ reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.06 per share by the closed-end fund on Wednesday, July 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Monday, July 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 1.2 %

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock opened at $16.38 on Tuesday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.30 and a 1-year high of $17.26. The company has a fifty day simple moving average of $16.31 and a 200 day simple moving average of $16.34.

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.