MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) seeks 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.
An opportunistic investment approach through an active management strategy that seeks to identify relative value across the municipal bond market.
The co-heads have worked together for over 20 years and leverage their long-term relationships with municipal dealers to help drive success.
- 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.
- Press Release (1/3/23): Monthly Dividend Distributions for the Months of January, February, March
- Press Release (10/14/22): MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay CBRE Global Infrastructure Megatrends Fund Announce Departure of Yie-Hsin Hung from the Board of Trustees
- Press Release (10/3/22): Monthly Dividend Distributions for the Months of October, November, and December
- Annual Meeting of Shareholders to Be Held on September 28, 2022
- Press Release (7/1/22): Monthly Dividend Distributions for the Months of July, August, and September
- Press Release (5/31/22): MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Amendment to the Declaration of Trust
- Press Release (4/1/22): Monthly Dividend Distributions for the Months of April, May and June
- Press Release (1/3/22): Monthly Dividend Distributions for the Months of January, February, March
- Press Release: MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay CBRE Global Infrastructure Megatrends Fund Appoint Karen Hammond to Board of Trustees
- Press Release (10/1/21): Monthly Dividend Distributions for the Months of October, November, December
- Annual Meeting of Shareholders to Be Held on September 29, 2021
- Press Release (7/1/21): Monthly Dividend Distributions for the Months of July, August, September
- Press Release (4/1/21): Monthly Dividend Distributions for the Months of April, May, June
- Press Release (1/4/21): Monthly Dividend Distributions for the Months of January, February, 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, June
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.
Percentages are based on fixed-income securities held in the Fund's investment portfolio and exclude any equity or convertible securities, credit default swaps, 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 or Moody's. If ratings are provided by three rating agencies, but differ, the middle rating will be utilized. If ratings are provided by two 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
* There is no assurance the Fund will continue to pay regular monthly distributions or that it will do so at a particular rate.
You should not draw any conclusions about the Fund’s investment performance from the amount of its distribution to shareholders.
Any distributions in excess of the Fund’s current and accumulated earnings and profits will be treated first, as a tax-deferred return of capital, which is applied against and will reduce the adjusted tax basis of shares and, after such adjusted basis is reduced to zero, will generally constitute capital gains. A return of capital distribution may lower a shareholder’s basis in the Fund, causing a potential future tax consequence in connection with the sale of Fund shares, even if such shares are sold at a loss to the shareholder’s initial investments.
Any amounts and sources of distributions are only estimated and are not being provided for tax reporting purposes. The actual amounts and sources of income of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV for the calendar year that will advise how to report these distributions for federal income tax purposes.
Distribution Rate: The distribution rate measures the percentage return in the form of dividends. It is calculated daily by annualizing the most recent dividend distribution and dividing by the daily share price (NAV or POP). If the Fund did not make a distribution as of the latest scheduled distribution date, "N/A" will be displayed.
The 30 Day SEC Yield is calculated by dividing the net investment income per share for the first 30 days of the month by the offering price per share at the end of that period. The yield reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses. Yield reflects a fee waiver and/or expense limitation agreement without which the 30 Day SEC Yield would have been lower.
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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.
Executive Managing Director
Senior Managing Director