MainStay CBRE Global Infrastructure Megatrends Term Fund (MEGI) To Go Ex-Dividend on April 19th

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend on Friday, April 12th, investing.com reports. Shareholders of record on Monday, April 22nd will be paid a dividend of 0.125 per share on Tuesday, April 30th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 12.72%. The ex-dividend date of this dividend is Friday, April 19th. This is an increase from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous monthly dividend of $0.11.

MainStay CBRE Global Infrastructure Megatrends Term Fund Trading Down 2.3 %

Shares of MEGI stock opened at $11.79 on Friday. The firm has a fifty day moving average price of $12.44 and a 200 day moving average price of $12.38. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 12 month low of $10.63 and a 12 month high of $14.89.

Insiders Place Their Bets

In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, major shareholder Saba Capital Management, L.P. acquired 22,144 shares of the stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average cost of $12.30 per share, with a total value of $272,371.20. Following the transaction, the insider now owns 5,507,053 shares in the company, valued at approximately $67,736,751.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Trading of MainStay CBRE Global Infrastructure Megatrends Term Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MUFG Americas Holdings Corp purchased a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 3rd quarter valued at $31,000. Advisor Group Holdings Inc. grew its holdings in shares of 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 purchasing 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 about $140,000. Advisors Asset Management Inc. acquired a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the first quarter worth about $198,000. Finally, Comerica Bank purchased a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the 3rd quarter valued at about $133,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile

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.