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John J. Lawlor, a portfolio manager at NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE:MMD), recently acquired 2,000 shares of the fund, according to a recent filing. The transaction, dated January 14, reflects a purchase at a price of $14.74 per share, totaling approximately $29,480. The purchase comes as MMD trades near its 52-week low of $14.53, with the fund showing a notably low beta of 0.53, indicating reduced volatility compared to the broader market. InvestingPro data reveals the fund has maintained consistent dividend payments for 14 consecutive years. Following this acquisition, Lawlor's total holdings in the fund increased to 4,500 shares. The fund, with a market capitalization of $409.41 million, currently offers an attractive dividend yield of 4.93%. For deeper insights into MMD's valuation metrics and additional analysis tools, check out InvestingPro, which features more exclusive financial indicators and investment signals.
In other recent news, the NYLI MacKay DefinedTerm Municipal Opportunities Fund has extended its operational term until December 31, 2036. This decision comes after the successful completion of a tender offer initiated on October 17, 2024, which was met with shareholder approval. The fund's board approved an amendment and restatement of its Declaration of Trust on December 3, 2024, which formalizes this extension. This development provides the fund with a solid timeline for operations and investment planning, aligning with the interests of its shareholders and the strategic direction of the fund. The fund's recent actions, including the tender offer and the extension of its term, are documented in the SEC filing dated December 9, 2024. This is a significant development for the NYLI MacKay DefinedTerm Municipal Opportunities Fund as it sets a clear path for its future operations.
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