MainStay MacKay DefinedTerm Municipal Opportunities Fund to Issue Monthly Dividend of $0.06 (NYSE:MMD)

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.06 per share by the closed-end fund on Friday, February 28th. This represents a $0.72 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, February 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Trading Down 0.1 %

MainStay MacKay DefinedTerm Municipal Opportunities Fund stock opened at $15.51 on Wednesday. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 52-week low of $14.53 and a 52-week high of $17.00. The stock has a fifty day moving average price of $15.26 and a two-hundred day moving average price of $16.17.

Insider Activity at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In other news, Portfolio Manager David Dowden bought 3,300 shares of the stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $14.92 per share, with a total value of $49,236.00. Following the purchase, the portfolio manager now owns 3,300 shares of the company’s stock, valued at approximately $49,236. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Portfolio Manager John J. Lawlor purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were purchased at an average cost of $14.74 per share, for a total transaction of $29,480.00. Following the purchase, the portfolio manager now directly owns 4,500 shares of the company’s stock, valued at $66,330. This trade represents a 80.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 7,800 shares of company stock valued at $118,191 over the last ninety days.

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.