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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.06 per share by the closed-end fund on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, March 14th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Up 0.2 %

NYSE:MMD opened at $15.32 on Wednesday. The stock’s 50-day moving average is $15.27 and its two-hundred day moving average is $15.96. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a fifty-two week low of $14.53 and a fifty-two week high of $17.00.

Insider Transactions at MainStay MacKay DefinedTerm Municipal Opportunities Fund

In related news, Portfolio Manager John J. Lawlor acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were acquired at an average cost of $14.74 per share, for a total transaction of $29,480.00. Following the completion of the acquisition, the portfolio manager now directly owns 4,500 shares in the company, valued at approximately $66,330. The trade was a 80.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Portfolio Manager David Dowden bought 3,300 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $14.92 per share, with a total value of $49,236.00. Following the completion of the purchase, the portfolio manager now directly owns 3,300 shares of the company’s stock, valued at $49,236. This represents a ∞ increase in their position. The disclosure for this purchase can be found here.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

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.