MainStay MacKay DefinedTerm Muni Opp:MMD

    Manage Alerts

    Overview

    As of 11/24/2020

     Share
    Price
    NAVPremium/
    Discount
    Current$21.37$20.693.29%
    52 Wk Avg$20.70$20.262.12%
    52 Wk High$22.89$21.138.33%
    52 Wk Low$15.20$17.94-7.34%
    Regular Distribution TypeIncome Only
    Distribution Rate4.77%
    Distribution Amount$0.0850
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its Managed Assets in municipal bonds, the interest on which is, in the opinion of bond counsel to the issuers, generally excludable from gross income for regular U.S. Federal income tax purposes (except that the interest may be includable in taxable income for purposes of the Federal alternative minimum tax).

    Capital Structure

    As of 11/24/2020

    Total Investment Exposure:$935.024M
    Total Common Assets:$572.674M
    Common Shares Outstanding:27,678,779
    Leverage

    As of 11/24/2020

    Preferred Share Assets: $70.000M
    Total Debt (USD): $292.350M
    Regulatory Leverage (USD): $70.000M
    Effective Leverage (USD): $362.350M
    Effective Leverage (%): 38.75%
    Annual Expense Ratios

    As of 5/31/2020

      Per Common Share
    Management Fees0.95%
    Other Expenses:0.07%
    Baseline Expense: N/A
    Interest Expense:1.31%
    Total: 2.33%
    Fund Management

    Fund Sponsor
    New York Life Investment Management LLC

    Portfolio Managers
    John M. Loffredo, Scott Sprauer, Michael Petty, David M. Dowden, Robert A. DiMella

    Basics
    Category: Fixed Income - Municipal-Municipal
    Ticker: MMD
    NAV Ticker: XMMDX
    Average Daily Volume (shares): 55,359
    Average Daily Volume (USD): $1.127M
    Inception Date: 6/27/2012
    Inception Share Price: $20.00
    Inception NAV: $19.06
    Tender Offer: No
    Term: Yes
    Fiscal Year End: May 31
    Third Party Links & Reports

    Distributions

    As of 11/24/2020

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 5/31/2020
    $0.3931
    Annualized Distribution Rate on NAV:
    As of 11/24/2020
    4.93%
    Total Return on NAV (12 months):
    As of 11/24/2020
    4.39%
    Avg. Portfolio Coupon:
    As of 11/24/2020
    8.10%
    Total % Portfolio Effectively Leveraged:
    As of 11/24/2020
    38.75%
    Taxable Equivalent Yield

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 11/25/2020

    PeriodAvg Discount
    6 Month2.40%
    1 Year2.12%
    3 Year-0.19%
    5 Year-1.16%
    Z-Score

    As of 11/24/2020

    PeriodZStat
    3 Month0.89
    6 Month0.68
    1 Year0.47
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 10/31/2020
    Category: Morningstar US CEF Municipal

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD3.58%3.73%-0.95%1.36%
    201913.29%8.26%19.04%10.34%
    20183.89%3.77%-5.46%0.49%
    201714.50%10.38%7.59%7.85%
    20162.92%4.10%1.16%0.57%
    201510.60%6.77%7.75%5.33%
    201423.15%26.14%19.16%18.97%
    2013-15.54%-10.87%-12.56%-6.88%
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 10/31/2020
    Category: Morningstar US CEF Municipal

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 11/24/2020
    8.10%
    Number of Holdings:
    As of 10/31/2020
    144
    Annual Portfolio Turnover:
    As of 5/31/2020
    38.00%
    Average Bond Price:
    As of 10/31/2020
    $112.51
    Asset Allocation

    As of 10/31/2020 reported by Fund Sponsor

    Top Sectors

    As of 10/31/2020 reported by Fund Sponsor

    Sector%Portfolio
    US Municipal Tax Advantaged97.66%
    Municipal (Super Sector)97.66%
    Cash Equivalents2.34%
    Cash Equivalents (Super Sector)2.34%
    State Allocation

    As of 10/31/2020 reported by Fund Sponsor

    State% Portfolio
    Puerto Rico24.31%
    Illinois12.16%
    California7.06%
    VI5.01%
    New York2.60%
    Michigan2.13%
    GU1.67%
    New Jersey1.51%
    UN1.46%
    Washington1.44%
    Top Holdings

    As of 8/31/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3%$26.15M4.39%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 9.14%$18.13M3.04%
    PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 6%$15.24M2.56%
    PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%$14.35M2.41%
    PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX 4.5%$13.08M2.20%
    CHILDRENS TR FD P R TOB SETTLEMENT REV 5.5%$13.04M2.19%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 6.79%$11.25M1.89%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 8.86%$10.99M1.85%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 9.43%$10.77M1.81%
    TENDER OPT BD TR RCPTS / CTFS VAR STS 22.7%$10.69M1.79%
    Maturity Breakdown

    As of 10/31/2020 reported by Fund Sponsor

    Country Allocation

    As of 10/31/2020 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income69.59%
    Others - Fixed Income28.07%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    TAXABLE EQUIVALENT YIELD
    1 Taxable equivalent yield is the yield or distribution rate needed from a taxable investment to be economically equal to receiving the stated tax-free yield from a municipal bond investment. Please note that the income levels shown in the calculator do not reflect (i) any federal or state limitations on the amounts of allowable itemized deductions, phaseouts of personal or dependent exemption credits or other allowable credits, (ii) any local taxes imposed, or (iii) any alternative minimum taxes or any taxes other than personal income taxes. The user is responsible for selecting the applicable federal and, as applicable, state tax rates. The stated federal tax rates for joint incomes over $250,000 include the 3.8% medicare tax imposed on the net investment income of certain taxpayers with higher incomes. This calculator is for illustrative purposes only and is not intended to represent actual performance, or to predict future performance, of any Nuveen Investments product. Certain taxpayers may find their effective marginal tax rates to be greater than those shown in the calculator. In that case, the taxable equivalent yield may be even higher.

    The Tax Cuts and Jobs Act of 2017 doubles the standard deduction and implements a limit for itemizing state and local income taxes, state and local property taxes, and sales taxes on 2018 tax filings. Since it is expected that fewer investors will deduct state income taxes for federal filing purposes, this calculator does not contemplate a federal benefit for state taxes paid, and the effective tax rate therefore represents the applicable federal income tax rate plus the applicable state income tax rate. If you itemize your deductions and have not exceeded your cap on deducting state taxes, your taxable equivalent yield will generally be lower than the rate calculated above.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-1014244PR-E1119W