MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Short Interest Up 22.0% in November

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 59,900 shares, an increase of 22.0% from the October 31st total of 49,100 shares. Based on an average daily volume of 106,500 shares, the days-to-cover ratio is currently 0.6 days.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Down 0.2 %

Shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock traded down $0.03 during trading on Monday, reaching $16.07. 71,139 shares of the company traded hands, compared to its average volume of 72,146. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $15.70 and a 1-year high of $17.00. The company has a 50 day moving average price of $16.55 and a 200-day moving average price of $16.57.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 21st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.48%.

Insider Activity

In related news, Portfolio Manager John J. Lawlor bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $15.79 per share, for a total transaction of $39,475.00. Following the transaction, the portfolio manager now directly owns 2,500 shares of the company’s stock, valued at approximately $39,475. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% during the third quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock worth $11,667,000 after buying an additional 270,153 shares during the last quarter. Almitas Capital LLC raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 122.8% during the second quarter. Almitas Capital LLC now owns 500,407 shares of the closed-end fund’s stock worth $8,297,000 after buying an additional 275,786 shares during the last quarter. City of London Investment Management Co. Ltd. raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 30.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 260,985 shares of the closed-end fund’s stock worth $4,327,000 after buying an additional 60,734 shares during the last quarter. NewEdge Advisors LLC raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 153.2% during the second quarter. NewEdge Advisors LLC now owns 88,864 shares of the closed-end fund’s stock worth $1,473,000 after buying an additional 53,767 shares during the last quarter. Finally, ProVise Management Group LLC raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 24.5% during the second quarter. ProVise Management Group LLC now owns 78,719 shares of the closed-end fund’s stock worth $1,305,000 after buying an additional 15,489 shares during 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.