Overview
Overview
The Fund’s primary investment objective is to seek current income exempt from regular U.S. Federal income taxes. The Fund’s secondary objective is total return.
Tax-Exempt Income and Total Return Potential
An investment-grade municipal bond closed-end fund designed to seek attractive, generally tax-exempt monthly distributions and total return potential.
Opportunistic Approach
An opportunistic investment approach through an active management strategy that seeks to identify relative value across the municipal bond market.
Tenured Team
The co-heads have worked together for over 20 years and leverage their long-term relationships with municipal dealers to help drive success.
IMPORTANT INFORMATION
- Income Tax Information
- Forms 3, 4, 5
- Proxy Voting Information: There is no proxy voting activity, as the Fund did not hold any voteable positions during the reporting period.
WHAT’S NEW
- Press Release (1/4/21): Monthly Dividend Distributions for the Months of January, February and March
- Press Release (12/1/20): Monthly Dividend Distributions for December
- Press Release (11/2/20): Monthly Dividend Distributions for November
- Press Release (10/1/20): Monthly Dividend Distributions for October
- Press Release (9/1/20): Monthly Dividend Distributions for September
- Press Release (8/3/20): Monthly Dividend Distributions for August
- Press Release (7/1/20): Monthly Dividend Distributions for July
- Press Release (4/1/20): Monthly Dividend Distributions for the Months of April, May and June
- Press Release (1/2/20): Monthly Dividend Distributions for the Months of January, February and March
- Press Release (10/1/19): Monthly Dividend Distributions for the Months of October, November and December
- Special Meeting of Shareholders to Be Held on October 2, 2019
- Press Release (7/1/19): Monthly Dividend Distributions for the Months of July, August and September
- Press Release (4/1/19): Monthly Dividend Distributions for the Months of April, May and June
- Press Release (1/2/19): Monthly Dividend Distributions for the Months of January, February and March
- Press Release (10/1/18): Monthly Dividend Distributions for the Months of October, November, and December
- Annual Meeting of Shareholders to Be Held on September 26, 2018
- Press Release (7/2/18): Monthly Dividend Distributions for the Months of July, August, and September
- Press Release (1/2/18): Peter Meenan Retires from MainStay DefinedTerm Municipal Opportunities Closed End Fund Board
- Press Release (12/15/17): MainStay DefinedTerm Municipal Opportunities Fund Renames as MainStay MacKay DefinedTerm Municipal Opportunities Fund
Performance
Performance
Returns represent past performance which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Expenses stated are as of the fund's most recent prospectus.
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Does not reflect the effect of any sales charge, which would reduce performance shown. Performance for other sales charges will differ based on differences in sales charges and expense structure.
Portfolio
Portfolio
Percentages are based on fixed-income securities held in the Fund's investment portfolio and exclude any equity or convertible securities and cash or cash equivalents. Ratings apply to the underlying portfolio of debt securities held by the Fund and are rated by an independent rating agency, such as Standard and Poor's, Moody's, and/or Fitch. If ratings are provided by the rating agencies, but differ, the higher rating will be utilized. If only one rating is provided, the available rating will be utilized. Securities that are unrated by the rating agencies are reflected as such in the breakdown. Unrated securities do not necessarily indicate low quality. S&P rates borrowers on a scale from AAA to D. AAA through BBB represent investment grade, while BB through D represent non-investment grade.
Distribution & Yields
Distribution & Yields
The 30-Day SEC Yield is based on net investment income for the 30-day period ended 3/31/20, divided by the offering price per share on that date. Yield reflects a fee waiver and/or expense limitation agreement without which the 30-Day SEC Yield would have been 2.44%.
Team
Team
Income and equity investment professionals offering a broad range of related strategies.
Boutique offering a range of fixed income and equity strategies including investment-grade high yield, bank loans and municipals as well as fundamental and systematic equities.
John Loffredo
Executive Managing Director
Robert DiMella
Executive Managing Director
Michael Petty
Senior Managing Director
David Dowden
Managing Director
Scott Sprauer
Managing Director