MainStay CBRE Global Infrastructure Megatrends Fund (NYSE:MEGI – Get Rating) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 24,100 shares, an increase of 180.2% from the November 30th total of 8,600 shares. Based on an average daily volume of 248,900 shares, the days-to-cover ratio is presently 0.1 days.
MainStay CBRE Global Infrastructure Megatrends Fund Price Performance
MEGI traded up $0.20 during mid-day trading on Thursday, hitting $13.68. 5,107 shares of the stock were exchanged, compared to its average volume of 164,069. The firm's fifty day moving average is $13.72 and its two-hundred day moving average is $14.74. MainStay CBRE Global Infrastructure Megatrends Fund has a 1-year low of $11.43 and a 1-year high of $20.44.
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MainStay CBRE Global Infrastructure Megatrends Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 27th will be paid a dividend of $0.108 per share. This represents a $1.30 annualized dividend and a yield of 9.47%. The ex-dividend date of this dividend is Friday, December 23rd.
Hedge Funds Weigh In On MainStay CBRE Global Infrastructure Megatrends Fund
Several hedge funds have recently bought and sold shares of the company. Karpus Management Inc. lifted its stake in MainStay CBRE Global Infrastructure Megatrends Fund by 77.4% during the 3rd quarter. Karpus Management Inc. now owns 1,183,313 shares of the company's stock worth $14,626,000 after acquiring an additional 516,431 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in MainStay CBRE Global Infrastructure Megatrends Fund in the 1st quarter valued at about $12,184,000. Raymond James & Associates raised its position in MainStay CBRE Global Infrastructure Megatrends Fund by 18.2% in the 3rd quarter. Raymond James & Associates now owns 587,808 shares of the company's stock valued at $7,265,000 after purchasing an additional 90,401 shares in the last quarter. Wells Fargo & Company MN raised its position in MainStay CBRE Global Infrastructure Megatrends Fund by 76.6% in the 2nd quarter. Wells Fargo & Company MN now owns 356,123 shares of the company's stock valued at $5,659,000 after purchasing an additional 154,506 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. raised its position in MainStay CBRE Global Infrastructure Megatrends Fund by 420.1% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 339,706 shares of the company's stock valued at $4,194,000 after purchasing an additional 274,395 shares in the last quarter.
MainStay CBRE Global Infrastructure Megatrends Fund Company Profile
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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.
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