MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) to Issue Monthly Dividend of $0.06 on May 31st

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Investors of record on Thursday, May 16th will be given a dividend of 0.06 per share by the closed-end fund on Friday, May 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Wednesday, May 15th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

MMD opened at $16.14 on Thursday. The stock’s 50 day simple moving average is $16.41 and its 200 day simple moving average is $15.94. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1-year low of $14.30 and a 1-year high of $17.67.

Institutional Investors Weigh In On MainStay MacKay DefinedTerm Municipal Opportunities Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cohen & Steers Inc. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 172.5% during the 4th quarter. Cohen & Steers Inc. now owns 54,501 shares of the closed-end fund’s stock valued at $886,000 after buying an additional 34,501 shares during the last quarter. Comerica Bank acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the 3rd quarter valued at $96,000. Ameriprise Financial Inc. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 237,996 shares of the closed-end fund’s stock valued at $3,791,000 after buying an additional 18,796 shares during the last quarter. LPL Financial LLC grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 7.9% during the 3rd quarter. LPL Financial LLC now owns 168,135 shares of the closed-end fund’s stock valued at $2,678,000 after buying an additional 12,292 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 3.3% during the 3rd quarter. Invesco Ltd. now owns 51,899 shares of the closed-end fund’s stock valued at $827,000 after buying an additional 1,657 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.