MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Short Interest Update

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 15,500 shares, a decline of 51.6% from the September 30th total of 32,000 shares. Based on an average trading volume of 114,200 shares, the days-to-cover ratio is presently 0.1 days.

MainStay CBRE Global Infrastructure Megatrends Term Fund Price Performance

Shares of MainStay CBRE Global Infrastructure Megatrends Term Fund stock remained flat at $14.23 on Friday. 88,890 shares of the stock were exchanged, compared to its average volume of 136,814. The stock’s fifty day simple moving average is $14.31 and its two-hundred day simple moving average is $13.34. MainStay CBRE Global Infrastructure Megatrends Term Fund has a twelve month low of $10.75 and a twelve month high of $14.96.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, October 24th. This represents a $1.50 annualized dividend and a yield of 10.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the second quarter valued at about $48,000. Crewe Advisors LLC purchased a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the first quarter worth approximately $109,000. Park Avenue Securities LLC purchased a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the first quarter worth approximately $146,000. Prudent Investors Network Inc. purchased a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund during the first quarter worth approximately $160,000. Finally, Capital Investment Advisors LLC raised its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 13.6% during the second quarter. Capital Investment Advisors LLC now owns 16,750 shares of the company’s stock worth $215,000 after purchasing an additional 2,000 shares during the period.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.