MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Plans $0.13 Monthly Dividend

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend on Thursday, September 14th, Zacks reports. Stockholders of record on Monday, September 25th will be paid a dividend of 0.125 per share on Friday, September 29th. This represents a $1.50 annualized dividend and a dividend yield of 11.67%. The ex-dividend date is Friday, September 22nd.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance

Shares of NYSE MEGI opened at $12.85 on Friday. MainStay CBRE Global Infrastructure Megatrends Term Fund has a one year low of $11.43 and a one year high of $15.75. The business has a fifty day simple moving average of $13.47 and a 200 day simple moving average of $13.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEGI. MUFG Americas Holdings Corp acquired a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 3rd quarter valued at $31,000. Advisor Group Holdings Inc. grew its stake in MainStay CBRE Global Infrastructure Megatrends Term Fund by 79.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 6,909 shares of the company’s stock worth $94,000 after buying an additional 3,058 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter worth approximately $140,000. Advisors Asset Management Inc. bought a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the first quarter valued at approximately $198,000. Finally, Jane Street Group LLC bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 2nd quarter valued at $214,000.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.