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

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.10 and traded as high as $15.61. MainStay MacKay DefinedTerm Municipal Opportunities Fund shares last traded at $15.5950, with a volume of 16,907 shares trading hands.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Stock Performance

The stock has a fifty day simple moving average of $15.10 and a 200-day simple moving average of $15.00.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be given a $0.065 dividend. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, March 16th.

Insider Buying and Selling

In other MainStay MacKay DefinedTerm Municipal Opportunities Fund news, Portfolio Manager Robert A. Dimella sold 11,965 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $14.84, for a total transaction of $177,560.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MMD. Elevation Point Wealth Partners LLC acquired a new stake in MainStay MacKay DefinedTerm Municipal Opportunities Fund in the 3rd quarter valued at $184,000. Cyndeo Wealth Partners LLC grew its holdings in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund by 8.8% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 13,199 shares of the closed-end fund’s stock valued at $200,000 after acquiring an additional 1,072 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of MainStay MacKay DefinedTerm Municipal Opportunities Fund in the third quarter valued at about $242,000. U.S. Capital Wealth Advisors LLC raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 26.8% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 19,026 shares of the closed-end fund’s stock worth $288,000 after acquiring an additional 4,026 shares in the last quarter. Finally, Integrated Capital Management Inc. raised its holdings in MainStay MacKay DefinedTerm Municipal Opportunities Fund by 23.9% during the second quarter. Integrated Capital Management Inc. now owns 22,462 shares of the closed-end fund’s stock worth $332,000 after acquiring an additional 4,327 shares in the last quarter.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

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.