MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $15.29 and traded as high as $15.36. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.3050, with a volume of 22,955 shares changing hands.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

The business has a 50-day moving average of $15.29 and a 200 day moving average of $15.24.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.0675 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 5.3%.

Institutional Trading of MainStay MacKay DefinedTerm Municipal Opportunities Fund

Several hedge funds have recently modified their holdings of MMD. Fifth Third Bancorp purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at $54,000. Kestra Advisory Services LLC purchased a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at $96,000. Pasadena Private Wealth LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at $149,000. Financially in Tune LLC bought a new position in MainStay MacKay DefinedTerm Municipal Opportunities Fund during the fourth quarter valued at $155,000. Finally, Rareview Capital LLC purchased a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 1st quarter worth $159,000.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Company Profile

The MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) is a closed-end, diversified management investment company that seeks to provide a high level of tax-exempt income. The fund primarily invests in investment-grade municipal securities, including general obligation bonds, revenue bonds and other state and local government obligations. By focusing on tax-exempt instruments, MMD aims to enhance after-tax yields for its shareholders, making it an option for investors in higher tax brackets who seek municipal bond exposure through a publicly traded vehicle.

As a defined-term fund, MMD was structured with a predetermined termination date at which point the portfolio is expected to be liquidated and proceeds returned to investors.