MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI – Get Free Report)’s stock price shot up 0.6% on Wednesday . The stock traded as high as $13.25 and last traded at $13.22. 81,672 shares changed hands during trading, a decline of 46% from the average session volume of 150,265 shares. The stock had previously closed at $13.14.
MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Performance
The business has a 50 day moving average price of $12.52 and a 200-day moving average price of $12.71.
MainStay CBRE Global Infrastructure Megatrends Term Fund Dividend Announcement
The company also recently declared a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were paid a $0.125 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 11.35%. The ex-dividend date was Thursday, May 23rd.
Insider Transactions at MainStay CBRE Global Infrastructure Megatrends Term Fund
In other MainStay CBRE Global Infrastructure Megatrends Term Fund news, major shareholder Saba Capital Management, L.P. acquired 25,362 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average cost of $11.88 per share, with a total value of $301,300.56. Following the completion of the transaction, the insider now directly owns 5,532,415 shares in the company, valued at approximately $65,725,090.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought 152,737 shares of company stock worth $1,898,754 in the last ninety days.
Institutional Investors Weigh In On MainStay CBRE Global Infrastructure Megatrends Term Fund
Several hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the first quarter valued at about $109,000. Private Advisor Group LLC acquired a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the 3rd quarter worth approximately $118,000. BancFirst Trust & Investment Management acquired a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the 4th quarter worth approximately $137,000. Sovereign Financial Group Inc. bought a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund during the fourth quarter worth approximately $137,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the first quarter valued at approximately $146,000.
MainStay CBRE Global Infrastructure Megatrends Term Fund Company Profile
The Fund’s investment objective is to seek a high level of total return with an emphasis on current income. There is no assurance that the Fund will achieve its investment objective. Tthe Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies.
Further Reading
Receive News & Ratings for MainStay CBRE Global Infrastructure Megatrends Term Fund Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for MainStay CBRE Global Infrastructure Megatrends Term Fund and related companies with MarketBeat.com’s FREE daily email newsletter.