MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced a monthly dividend on Wednesday, April 7th, Wall Street Journal reports. Investors of record on Tuesday, June 15th will be given a dividend of 0.085 per share by the closed-end fund on Wednesday, June 30th. This represents a $1.02 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, June 14th.
NYSE:MMD traded up $0.27 during mid-day trading on Wednesday, reaching $22.34. The company’s stock had a trading volume of 333 shares, compared to its average volume of 40,624. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $18.23 and a 1 year high of $22.59. The stock has a fifty day moving average of $21.65 and a 200-day moving average of $21.47.
In other news, Director Yie-Hsin Hung purchased 11,600 shares of the firm’s stock in a transaction on Friday, March 19th. The stock was acquired at an average cost of $21.30 per share, with a total value of $247,080.00. Following the completion of the transaction, the director now owns 11,600 shares in the company, valued at approximately $247,080. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
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.
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