Mainstay Definedterm Municipal Opportunities Fund (MMD): David Dowden , other of Mainstay Definedterm Municipal Opportunities Fund sold 5,000 shares on May 6, 2016. The Insider selling transaction was reported by the company on May 9, 2016 to the Securities and Exchange Commission. The shares were sold at $20.18 per share for a total value of $100,912.30 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on May 9, 2016, John M Loffredo (other) sold 10,938 shares at $20.16 per share price.On May 9, 2016, David Dowden (other) sold 5,000 shares at $20.18 per share price.Also, On Feb 27, 2015, York Life Investment Manag New (other) sold 6,304 shares at $18.60 per share price.
Mainstay Definedterm Municipal Opptys Fd: On Friday, May 6, 2016 heightened volatility was witnessed in Mainstay Definedterm Municipal Opptys Fd which led to swings in the share price. The shares opened for trading at $20.18 and hit $20.29 on the upside , eventually ending the session at $20.29, with a gain of 0.55% or 0.11 points. The heightened volatility saw the trading volume jump to 47,779 shares. The 52-week high of the share price is $20.29 and the company has a market cap of $559 M . The 52-week low of the share price is at $17.06.
MainStay DefinedTerm Municipal Opportunities Fund is a diversified closed-end management investment company. The Fund’s primary investment objective is to seek current income exempt from regular United States Federal income taxes and secondary objective is total return. The Fund invests in both short-term floating rate notes (TOB Floaters) which are sold to third-party investors and residual interest municipal tender option bonds (TOB Residuals). The Fund’s portfolio holdings include investments in non-investment grade debt securities. The Fund’s investment portfolio consists of municipal bonds of various states of the United States such as California Illinois Michigan Washington Maryland Nebraska Kansas Tennessee Nevada Louisiana Alabama Alaska Arizona Iowa Missouri Indiana Georgia and Colorado. New York Life Investment Management LLC (New York Life Investments) serves as the Fund manager and MacKay Shields LLC (MacKay Shields) as sub-advisor for the Fund.