MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Share Price Passes Below Two Hundred Day Moving Average Following Insider Selling

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMDGet Rating) passed below its 200-day moving average during trading on Thursday after an insider sold shares in the company. The stock has a 200-day moving average of $17.40 and traded as low as $16.32. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $16.52, with a volume of 212,048 shares trading hands.

Specifically, Portfolio Manager Michael Petty sold 1,709 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $16.15, for a total transaction of $27,600.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Up 1.2 %

The business’s fifty day moving average is $15.90 and its 200 day moving average is $17.40.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be given a $0.085 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Wednesday, December 14th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at $68,000. Robinson Capital Management LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at $66,000. Parallel Advisors LLC grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4,555.7% in the second quarter. Parallel Advisors LLC now owns 4,516 shares of the closed-end fund’s stock valued at $82,000 after purchasing an additional 4,419 shares in the last quarter. Syverson Strege & Co grew its position in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 27.3% in the second quarter. Syverson Strege & Co now owns 6,283 shares of the closed-end fund’s stock valued at $114,000 after purchasing an additional 1,348 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 2nd quarter valued at about $115,000.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

(Get Rating)

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.

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