MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Announces Monthly Dividend of $0.07

by · The Cerbat Gem

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD – Get Free Report) announced a monthly dividend on Friday, January 2nd. Investors of record on Friday, February 13th will be paid a dividend of 0.065 per share by the closed-end fund on Monday, March 2nd. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, February 13th.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Price Performance

MMD traded up $0.07 on Friday, reaching $14.94. The company had a trading volume of 106,058 shares, compared to its average volume of 76,272. MainStay MacKay DefinedTerm Municipal Opportunities Fund has a 1 year low of $14.00 and a 1 year high of $15.86. The stock has a 50-day moving average price of $14.96 and a 200-day moving average price of $14.88.

About MainStay MacKay DefinedTerm Municipal Opportunities Fund

(Get Free Report)

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.

Read More