MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Short Interest Down 42.3% in July

by · The Markets Daily

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI – Get Free Report) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 88,176 shares, a decline of 42.3% from the June 30th total of 152,888 shares. Based on an average trading volume of 108,246 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 11.3% during the 4th quarter. Morgan Stanley now owns 5,769,365 shares of the company’s stock valued at $79,386,000 after buying an additional 584,119 shares during the last quarter. Raymond James Financial Inc. grew its holdings in MainStay CBRE Global Infrastructure Megatrends Term Fund by 5.1% in the 3rd quarter. Raymond James Financial Inc. now owns 2,465,902 shares of the company’s stock worth $36,199,000 after acquiring an additional 120,525 shares during the last quarter. Royal Bank of Canada increased its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 11.4% in the fourth quarter. Royal Bank of Canada now owns 1,002,528 shares of the company’s stock valued at $13,795,000 after acquiring an additional 102,850 shares during the period. Bank of America Corp DE increased its position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 7.5% in the first quarter. Bank of America Corp DE now owns 759,148 shares of the company’s stock valued at $11,152,000 after acquiring an additional 53,185 shares during the period. Finally, Sit Investment Associates Inc. bought a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter valued at about $9,998,000.

MainStay CBRE Global Infrastructure Megatrends Term Fund Trading Down 0.5%

MEGI stock traded down $0.07 during trading on Friday, hitting $15.30. 124,005 shares of the company traded hands, compared to its average volume of 168,372. The company has a 50-day moving average of $15.25 and a 200-day moving average of $14.99. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 1 year low of $13.42 and a 1 year high of $15.89.

MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.125 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend is Monday, August 24th.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

(Get Free Report)

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) is a closed-end term fund that seeks to deliver total return through a combination of income and capital appreciation by investing primarily in global infrastructure securities. The fund targets companies involved in the development, ownership, or operation of transportation networks, energy and utility systems, digital infrastructure and related megatrends. By focusing on essential assets that underpin long-term economic growth, MEGI aims to generate a stable income stream while capturing opportunities for capital gains.

Launched in 2021, MEGI employs a thematic investment approach managed by CBRE Clarion Securities’ dedicated infrastructure equity team.

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