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We review CEF market valuation and performance through the last week of April and highlight recent market action. April was the worst month for the CEF space since March of 2020 driven primarily by lower NAVs. We take a look at the performance of CEFs relative to open-end funds ov...
We had another down week nearly across all asset classes with the markets shedding nearly 3% and the Nasdaq nearly 4%. Fixed income was also down. Nothing worked. Yields were up again with the 10-year touching 2.95% on the week but finishing at 2.90%. Oil was down $5 to $101/bl and th...
Muni CEFs have been beaten up so far in 2022. This is the worst 3-month period in a non-recessionary environment for 3 decades. In prior periods of rising rates it has been a good time to get in as muni bonds tend to be resilient over time. While muni CEFs are much cheaper today t...
Municipal bond valuations have cheapened considerably as yields have risen on the back of persistent inflation and hawkish Fed talk. Municipal CEF sector discounts are also trading at historically cheap levels. This combination makes it an attractive environment to lock in high ta...
We review CEF market valuation and performance through the second week of April and highlight recent market action. The recent rally fizzled as the CEF space fell sharply with most sectors dropping more than 1%. We highlight funds that are likely to be more resilient in the face o...
April saw a well above average number of net distribution cuts for the tax-exempt CEF sector - a direct outcome of rising leverage costs. The sector's valuation profile has moved very quickly from being very expensive to attractively valued. We highlight our allocation stance in t...
MAINSTAY MACKAY DEFINEDTERM MUNICIPAL OPPORTUNITIES FUND DECLARES MONTHLY DIVIDEND DISTRIBUTIONS FOR THE MONTHS OF APRIL, MAY AND JUNE 2022 PR Newswire NEW YORK , April 1, 2022 /PRNewswire/ -- MainStay MacKay DefinedTerm Municipal Opportunities Fund (the ...
MEGI launched in October 2021 in a space that I watch particularly close as an income investor. The twist with this fund is that it is "thematic" in "megatrends" of decarbonization, digital transformation, and asset modernization. The fund launched with a monthly distribution of $...
MAINSTAY MACKAY DEFINEDTERM MUNICIPAL OPPORTUNITIES FUND DECLARES MONTHLY DIVIDEND DISTRIBUTIONS FOR THE MONTHS OF JANUARY, FEBRUARY AND MARCH 2022 PR Newswire NEW YORK , Jan. 3, 2022 /PRNewswire/ -- MainStay MacKay DefinedTerm Municipal Opportunities Fund (the "...
MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay CBRE Global Infrastructure Megatrends Fund Appoint Karen Hammond to Board of Trustees Hammond will replace current board member Richard H. Nolan, Jr. PR Newswire NEW YORK , Dec. 31, 2021 /P...
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MainStay MacKay DefinedTerm Municipal Opportunities Fund (the “Fund”) ( NYSE:MMD ) today announced monthly dividend distributions of $0.06 per common share for the months of July, August, and September 2024. This amount is consistent with the Fund’s April, May, and June 2...
2024-06-01 14:58:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) is expected to report for Q4 2003