Welcome to our dedicated page for MainStay MacKay DefinedTerm Municipal Opportunities Fund news (Ticker: MMD), a resource for investors and traders seeking the latest updates and insights on MainStay MacKay DefinedTerm Municipal 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.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) announced a monthly dividend of $0.075 per common share for April, May, and June 2023, a decrease from the previous $0.080 distribution. The dividend is derived from undistributed net investment income and will not include a return of principal. The declaration dates for the dividends are April 3, 2023, followed by ex-dates on April 13, May 12, and June 14, with payable dates on April 28, May 31, and June 30, 2023. Investors can access further insights on the portfolio and municipal market via the company’s website.
The MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced monthly dividends of $0.080 per share for January, February, and March 2023, a decrease from $0.085 per share in the previous quarter. The dividends will be sourced from undistributed net investment income and are not expected to involve any return of principal. The declaration dates are set for January 3, 2023, for all three months, with payable dates varying from January 31 to March 31, 2023. Portfolio commentary will be available around January 3, 2023.
New York Life Investments has announced the departure of Yie-Hsin Hung from the Board of Trustees of the MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) and the MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI). Effective October 14, 2022, Hung's resignation follows her prior announcement of stepping down as CEO of New York Life Investment Management. The Boards of both funds will now consist of six members each. For details on risks and expenses, visit the respective fund websites provided.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced monthly dividends of $0.085 per common share for October, November, and December 2022, maintaining the previous distribution rate. The dividends result from the Fund's undistributed net investment income and are not expected to involve a return of principal. Key dates include the declaration date on October 3, 2022, and payment dates at the end of each respective month. For further details on the Fund's performance and market commentary, visit the provided New York Life Investments link.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced monthly dividend distributions of $0.085 per common share for July, August, and September 2022. This dividend amount is consistent with the prior three months. Key dates include declaration on July 1, with the payable date on July 29. The Fund's dividends will originate from monthly undistributed net investment income, without expectation of principal return. Investors can access portfolio insights and other information via the Fund's website.
The Board of Trustees of MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) has approved an amendment allowing a tender offer to purchase all its common shares at net asset value (NAV). This offer can occur within the next 12 months, contingent upon maintaining net assets above $200 million. If assets fall below this threshold, the offer will be canceled and the Fund will liquidate by December 31, 2024. Should the tender offer proceed successfully, the Fund may amend its trust declaration to continue as a perpetual closed-end fund.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) announced monthly dividend distributions of $0.085 per common share for April, May, and June 2022, consistent with the previous quarter's dividends. The declaration date for the April dividend is April 1, 2022, with a payable date of April 29, 2022. This dividend is sourced from the Fund's monthly undistributed net investment income and is not expected to involve a return of principal. The release includes a reminder of inherent investment risks, such as market and credit risks.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) has announced monthly dividend distributions of $0.085 per common share for January, February, and March 2022. This amount matches the previous quarterly dividend of $0.085 announced for the final three months of 2021. The dividend will be paid from the Fund's undistributed net investment income, with no return of principal expected. Key dates include the declaration date of January 3, 2022, and a payable date of January 31, 2022.
New York Life Investments appointed Karen Hammond as a Class II Trustee for the MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) and MainStay CBRE Global Infrastructure Megatrends Fund (MEGI), effective December 31, 2021. Hammond replaces Richard H. Nolan, Jr., who has retired after serving as a Trustee since 2006. Hammond brings over 30 years of investment management experience, having previously worked with Fidelity Investments, where she held senior roles. The board for each fund remains at seven, with six independent trustees.
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