Welcome to our dedicated page for NYLI MacKay DefinedTerm Muni Opportunities Fund news (Ticker: MMD), a resource for investors and traders seeking the latest updates and insights on NYLI MacKay DefinedTerm Muni Opportunities Fund stock.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) is a diversified, closed-end management investment company located in the USA. The primary investment objective of the Fund is to seek current income exempt from regular U.S. Federal income taxes and to aim for a total return. With a focus on municipal bonds, the Fund also invests in tender option bonds (TOB) Floaters and TOB Residuals issued by the TOB Issuer. Performance is benchmarked against the Barclays Municipal Bond Index, ensuring a competitive and transparent evaluation.
The Fund is closely managed by New York Life Investments, a prominent entity with over $716 billion in Assets Under Management as of December 31, 2023. New York Life Investments offers clients specialized, independent investment strategies through its family of affiliated boutiques. The Fund's management team, known as MacKay Municipal Managers™, is a recognized leader in active municipal bond investing, overseeing $74 billion in municipal bond assets as of December 31, 2023.
Recently, the Fund announced monthly dividend distributions of $0.06 per common share for the months of April, May, and June 2024. This amount aligns with the previous quarters' distributions, reflecting a consistent payout strategy. The Fund's daily closing prices, net asset values per share, and additional information are readily available to investors. Portfolio and municipal market commentaries are published quarterly, offering valuable insights into the Fund's performance and market conditions.
The Fund is not without risks, including market risk, interest rate risk, credit risk, and the potential loss of principal. Investors are advised to be aware that shares of closed-end funds often trade at a discount from their net asset value, which could elevate investor risk. However, the Fund remains committed to achieving its investment objectives through strategic management and a robust, research-driven approach.
In summary, MainStay MacKay DefinedTerm Municipal Opportunities Fund stands out for its focused investment in municipal bonds, experienced management team, and consistent dividend distributions. Investors looking for tax-exempt income and a strategy aligned with the Barclays Municipal Bond Index may find this Fund a valuable addition to their portfolio.
The NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE:MMD) has announced its monthly dividend distribution for December 2024. The Fund will distribute $0.06 per common share, maintaining the same amount as November 2024. The dividend will be paid on December 31, 2024, with an ex-date and record date of December 16, 2024. The distribution will come from monthly undistributed net investment income and is not expected to include any return of principal.
NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE: MMD) has announced the final results of its tender offer. Shareholders were allowed to tender up to 100% of their shares at $16.89 per share, representing the NAV on November 14, 2024. The tender offer resulted in 9,147,341 common shares being tendered, approximately 32.8% of outstanding shares. Following the successful tender offer, the Fund's term has been extended to December 31, 2036, and the management fee will be reduced from 0.60% to 0.54% between December 31, 2024, and December 31, 2025.
NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE: MMD) has announced preliminary results of its tender offer, which expired on November 14, 2024. Shareholders were allowed to offer up to 100% of their shares for repurchase at 100% of NAV. Preliminary data shows 9,080,459 common shares were tendered, representing approximately 32.5% of outstanding shares. The tender offer completion requires the Fund's net assets to remain above $200 million after the transaction. If this condition is not met, the tender offer will be cancelled and the Fund will dissolve on December 31, 2024. Final results are expected around November 18, 2024.
NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE:MMD) has declared its monthly dividend distribution of $0.06 per common share for November 2024. This distribution maintains consistency with October 2024's dividend amount. The dividend will be paid on November 29, 2024, to shareholders of record as of November 21, 2024. The distribution will be derived from monthly undistributed net investment income and is not expected to include any return of principal.
NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE: MMD) has initiated a tender offer, allowing shareholders to offer up to 100% of their shares for repurchase at 100% of the net asset value per share. The offer expires on November 14, 2024. The Fund was the #1 performing fund among 37 Muni National Long closed-end funds over the trailing 10-year period ending September 30, 2024, based on both price and NAV returns.
The tender offer's completion is subject to conditions, including maintaining a minimum net asset value of $200 million. If this condition is not met, the Fund will dissolve on December 31, 2024. The Fund has paid $12.43 per share in total distributions since its inception in June 2012, with no return of capital. Modified distribution schedules for November and December 2024 have been announced.
NYLI MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) has announced its monthly dividend distribution for October 2024. The Fund will distribute $0.06 per common share, maintaining consistency with its July, August, and September 2024 dividend distributions. The dividend is scheduled to be declared on October 1, 2024, with an ex-date and record date of October 15, 2024, and a payable date of October 31, 2024.
The dividend will be sourced from the Fund's monthly undistributed net investment income and is not expected to include any return of principal. Investors can access additional information, including portfolio commentary, municipal market insights, and daily closing prices, through the Fund's website or by contacting the shareholder servicing agent.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) announced a consistent monthly dividend distribution of $0.06 per common share for July, August, and September 2024.
This is in line with the previous quarter's distribution. The dividends will be paid on July 31, August 30, and September 30, 2024, to shareholders on record as of July 15, August 15, and September 16, 2024, respectively.
The dividends are derived from the Fund’s monthly undistributed net investment income, with no expected return of principal. Risks include market risk, interest rate risk, and possible loss of principal.
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