MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.54 and traded as low as $15.46. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.58, with a volume of 106,854 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The company’s 50 day moving average is $16.39 and its 200-day moving average is $16.54.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 4.62%. The ex-dividend date is Monday, December 16th.

Insider Buying and Selling

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager John J. Lawlor acquired 2,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $15.79 per share, for a total transaction of $39,475.00. Following the completion of the acquisition, the portfolio manager now owns 2,500 shares in the company, valued at approximately $39,475. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Stifel Financial Corp lifted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 9.3% in the third quarter. Stifel Financial Corp now owns 48,556 shares of the closed-end fund’s stock valued at $819,000 after buying an additional 4,130 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 64.0% in the third quarter. Jane Street Group LLC now owns 692,000 shares of the closed-end fund’s stock valued at $11,667,000 after buying an additional 270,153 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at $112,000. Cyndeo Wealth Partners LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at $283,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at $84,000.

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.