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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.06 per share by the closed-end fund on Friday, January 31st. This represents a $0.72 annualized dividend and a yield of 4.75%. The ex-dividend date is Wednesday, January 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.4 %

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded up $0.06 during trading on Friday, hitting $15.17. The company had a trading volume of 62,067 shares, compared to its average volume of 67,234. The company’s 50 day simple moving average is $15.87 and its 200-day simple moving average is $16.41. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.53 and a 1-year high of $17.00.

Insider Activity

In related news, Portfolio Manager John J. Lawlor acquired 2,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $15.79 per share, with a total value of $39,475.00. Following the completion of the transaction, the portfolio manager now owns 2,500 shares in the company, valued at $39,475. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.