MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Stock Crosses Below 200 Day Moving Average of $17.00

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Rating)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.00 and traded as low as $16.79. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $16.86, with a volume of 11,779 shares.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

The company has a 50-day moving average price of $17.07 and a 200-day moving average price of $17.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.075 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date is Wednesday, June 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 545.8% in the first quarter. Ameriprise Financial Inc. now owns 196,392 shares of the closed-end fund’s stock valued at $3,454,000 after acquiring an additional 165,983 shares during the period. Rockefeller Capital Management L.P. grew its stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 35.6% in the first quarter. Rockefeller Capital Management L.P. now owns 30,256 shares of the closed-end fund’s stock valued at $525,000 after acquiring an additional 7,946 shares during the period. Jane Street Group LLC acquired a new position in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the first quarter valued at approximately $325,000. Equitable Holdings Inc. boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 4.6% in the first quarter. Equitable Holdings Inc. now owns 88,710 shares of the closed-end fund’s stock valued at $1,542,000 after buying an additional 3,882 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 5.7% in the first quarter. Stifel Financial Corp now owns 53,960 shares of the closed-end fund’s stock valued at $938,000 after buying an additional 2,890 shares during the period.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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Mainstay Mackay Definedterm Municipal Opportunities Fund operates as a closed-end investment fund, which engages in investments in the municipal bond market. Its primary objective is to seek current income exempt from regular U.S. Federal income taxes. The fund offers tax-exempt monthly distributions and total return potential, an opportunistic investment approach through active management, and a defined term that seeks to provide the net asset value upon termination to shareholders.