MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Raises Dividend to $0.13 Per Share

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) declared a monthly dividend on Friday, April 12th, investing.com reports. Investors of record on Monday, April 22nd will be given 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 12.71%. 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 Price Performance

MainStay CBRE Global Infrastructure Megatrends Term Fund stock opened at $11.80 on Friday. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 52 week low of $10.63 and a 52 week high of $14.89. The company’s 50 day moving average price is $12.44 and its two-hundred day moving average price is $12.38.

Insider Activity at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, major shareholder Saba Capital Management, L.P. acquired 22,144 shares of MainStay CBRE Global Infrastructure Megatrends Term Fund stock in a transaction on Tuesday, March 19th. The stock was purchased at an average price of $12.30 per share, for a total transaction of $272,371.20. Following the purchase, the insider now directly owns 5,507,053 shares of the company’s stock, valued at $67,736,751.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of MainStay CBRE Global Infrastructure Megatrends Term Fund

Hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC bought a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 1st quarter valued at about $12,184,000. Morgan Stanley raised its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 25.4% in the fourth quarter. Morgan Stanley now owns 3,026,143 shares of the company’s stock valued at $41,307,000 after purchasing an additional 612,611 shares during the period. Pathstone Holdings LLC bought a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter worth approximately $5,748,000. Logan Stone Capital LLC bought a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter worth $5,783,000. Finally, Bank of America Corp DE grew its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 96.3% during the 4th quarter. Bank of America Corp DE now owns 632,370 shares of the company’s stock valued at $8,632,000 after buying an additional 310,205 shares in the last quarter.

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.