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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) declared a monthly dividend on Monday, March 3rd, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.06 per share by the closed-end fund on Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, March 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

Shares of NYSE MMD traded down $0.17 during midday trading on Tuesday, reaching $15.38. 78,591 shares of the company were exchanged, compared to its average volume of 95,068. The stock’s 50-day moving average price is $15.22 and its 200-day moving average price is $16.02. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a one year low of $14.53 and a one year high of $17.00.

Insider Buying and Selling

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

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.