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MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of March 24, 2023
Market Price $17.40 (- $0.08)
NAV (March 24, 2023) $17.14 (+ $0.09)
Fund Listed NYSE
Premium / Discount 1.52% (-1.01%)
Fund Info
Inception June 27, 2012
Sponsor New York Life Investment Management
Website https://www.newyorklif...
Phone 855-456-9683
Location New York
Incorporated Delaware
Staggered Board Yes
Objective: Current income exempt from regular U.S. Federal income taxes with a secondary objective of total return by investing in a portfolio of municipal bonds.
Related Indexes
Term Municipal Fund Index
Tax-Sensitive Income Index
Capital & Leverage
Outstanding Shares 27,875,160
Total Assets (Reported: Nov. 30, 2022) $780M
Estimated Total Assets $786M
Net Assets $478M
Market Cap $485M
Portfolio Turnover 30.00%
Total Leverage 39.20%
Structural Leverage (out of total) 0.00%
Portfolio Leverage (out of total) 100.00%
Expense Ratio 2.49%
Non Lev Exp Ratio 1.07%
Rel Lev Cost 2.19%
Discount Data
Average Discount (3 Yr) 1.89%
Discount Low(3 Yr) -5.43%
Discount High(3 Yr) 8.22%
Discount Rel Range (3 Yr) 50.89%
Comp Discount 12.44
Discount St Dev (1Yr) 3.13
Z-Stat (6mo) 0.84
Z-Stat (1Yr) 0.45
Z-Stat (3Yr) -0.13
Comp Z-Stat (6mo) 2.42
Comp Z-Stat (3Yr) 1.69
Distribution Data
Market Yield 5.52%
Income Yield 5.52%
Lev Adj NAV Yield 4.02%
Distribution Frequency M
Current Distribution $0.080
Current Income $0.080
Ex-Date 3/14/23
Payable Date 3/31/23
Div Growth (3yr) -5.88%
Dividend Change -5.9% on 1/3/23
Expected Div 4/3/23
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $1,436
Avg Volume 30 day 70,269
Avg Volume 90 day 82,525
Volume Trend -14.85%
Comp Volume Trend 7.27%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
Most Correlated Peer (Mk Pr): EVN 76.0%
NAV - Price Correlation (30 d) 46.5%
NAV - Price Correlation (90 d) 55.6%
NAV - Price Correlation (1 Yr) 84.6%
Price St Dev (1Yr) 19.4%
NAV St Dev (1Yr) 7.5%
Earnings / Share (12/31/22) $0.085
Earn Coverage 106.25%
Earnings Trend Flat
UNII / Share (12/31/22) $0.240
Rel UNII 25.01
UNII Trend Down
Bond Specific Data
Maturity 20.20
Duration 10.00
Credit Rating (rbo) AA
Investment Grade 79.50%
Non Investment Grade 4.50%
Unrated Bonds 16.00%
Average Bond Price 99.01
Discount vs Price 0.53
Coupon 5.05%
Zero Coupon 1.11%
AMT 7.04%
AMT Yield 5.41%
Bond Calls Risk 16.90%
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index


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