MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Announces Dividend Increase – $0.13 Per Share

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) declared a monthly dividend on Friday, April 12th, investing.com reports. Investors of record on Monday, April 22nd will be given a dividend of 0.125 per share on Tuesday, April 30th. This represents a $1.50 annualized dividend and a dividend yield of 13.03%. The ex-dividend date is Friday, April 19th. This is an increase from MainStay CBRE Global Infrastructure Megatrends Term Fund’s previous monthly dividend of $0.11.

MainStay CBRE Global Infrastructure Megatrends Term Fund Stock Up 1.5 %

Shares of MEGI opened at $11.51 on Thursday. MainStay CBRE Global Infrastructure Megatrends Term Fund has a 1-year low of $10.63 and a 1-year high of $14.89. The firm’s 50 day simple moving average is $12.36 and its 200 day simple moving average is $12.37.

Insider Buying and Selling at MainStay CBRE Global Infrastructure Megatrends Term Fund

In other news, major shareholder Saba Capital Management, L.P. bought 22,144 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average price of $12.30 per share, with a total value of $272,371.20. Following the completion of the purchase, the insider now directly owns 5,507,053 shares in the company, valued at $67,736,751.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MEGI. Penserra Capital Management LLC purchased a new position in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 1st quarter worth approximately $12,184,000. Morgan Stanley boosted its position in MainStay CBRE Global Infrastructure Megatrends Term Fund by 25.4% during the 4th quarter. Morgan Stanley now owns 3,026,143 shares of the company’s stock valued at $41,307,000 after buying an additional 612,611 shares during the period. Pathstone Holdings LLC bought a new stake in MainStay CBRE Global Infrastructure Megatrends Term Fund in the 4th quarter worth $5,748,000. Logan Stone Capital LLC purchased a new position in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund in the fourth quarter valued at about $5,783,000. Finally, Bank of America Corp DE raised its stake in shares of MainStay CBRE Global Infrastructure Megatrends Term Fund by 96.3% during the fourth quarter. Bank of America Corp DE now owns 632,370 shares of the company’s stock valued at $8,632,000 after acquiring an additional 310,205 shares during the last quarter.

About MainStay CBRE Global Infrastructure Megatrends Term Fund

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.