MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Monthly Dividend of $0.06 (NYSE:MMD)

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.06 per share by the closed-end fund on Friday, February 28th. This represents a $0.72 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Friday, February 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

NYSE MMD traded down $0.02 during trading hours on Tuesday, reaching $15.51. 78,716 shares of the company’s stock were exchanged, compared to its average volume of 114,705. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a one year low of $14.53 and a one year high of $17.00. The company’s 50-day moving average is $15.27 and its two-hundred day moving average is $16.19.

Insiders Place Their Bets

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager David Dowden purchased 3,300 shares of the business’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $14.92 per share, with a total value of $49,236.00. Following the acquisition, the portfolio manager now directly owns 3,300 shares of the company’s stock, valued at $49,236. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Portfolio Manager John J. Lawlor purchased 2,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were acquired at an average cost of $14.74 per share, with a total value of $29,480.00. Following the acquisition, the portfolio manager now directly owns 4,500 shares in the company, valued at approximately $66,330. The trade was a 80.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 7,800 shares of company stock valued at $118,191 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.