NYLI MacKay Fund Announces Consistent Dividend for November
NYLI MacKay DefinedTerm Muni Opportunities Fund's November Dividend
Today, the NYLI MacKay DefinedTerm Muni Opportunities Fund (the “Fund”) (NYSE:MMD) declared a monthly dividend of $0.06 per common share for November 2024. This amount matches the Fund's previous distribution for October 2024, maintaining consistency for investors.
Dividend Distribution Schedule Overview
The dividend distribution schedule is an essential aspect for investors to note. The declaration for November is set for the 1st, with the ex-dividend date on the 21st. This will align with the record date also being on the 21st, allowing for the payment to be issued by the 29th of November.
Important Dates to Remember:
- Declaration Date: November 1, 2024
- Ex-Date: November 21, 2024
- Record Date: November 21, 2024
- Payable Date: November 29, 2024
Fund Insights and Market Commentary
Anticipated portfolio insights along with municipal market commentary will be published around November 1, 2024, providing additional context for investors. These insights will aid stakeholders in understanding market conditions and investment performances directly.
Understanding the Fund's Performance
Investors should note that the Fund's dividend payments are derived from its monthly undistributed net investment income. Consequently, it is expected that there will not be any return of principal included in these distributions.
About NYLI MacKay DefinedTerm Muni Opportunities Fund
MacKay Municipal Managers™, known for its leadership in active municipal bond investing, manages assets totaling $82 billion as of September 30, 2024. They focus on quality municipal bond solutions suitable for various investors.
MacKay Municipal Managers' Philosophy
MacKay's investment approach involves a combination of top-down strategies along with in-depth credit research. Their mission is to achieve strong long-term performance in the municipal bond market, which is recognized as complex and fragmented.
Risks and Considerations
Investing inherently comes with risks, including market risk, interest rate fluctuations, and credit risk, alongside the potential loss of principal. Investors should remain aware that shares in closed-end funds often trade at a discount from their net asset value, which can elevate risks for investors.
About New York Life Investments
New York Life Investments, managing over $750 billion in assets, ranks among the top money managers listed by Pensions & Investments. This distinction is attributed to their comprehensive asset management business, which extends across specialized boutiques, providing clients with a diversity of investment opportunities.
Understanding MacKay Shields LLC
MacKay Shields LLC, an integral part of New York Life Investments, caters to both high-net-worth individuals and institutional clients. They provide an extensive range of fixed income strategies through various investment vehicles while maintaining a commitment to client service by allowing direct access to experienced investment professionals.
Frequently Asked Questions
What is the dividend distribution for November 2024?
The Fund has declared a monthly dividend of $0.06 per common share for November 2024.
When is the payable date for the dividend?
The payable date for the November dividend is set for November 29, 2024.
How does the Fund generate its dividends?
The dividends are derived from the Fund's monthly undistributed net investment income, without the inclusion of any return of principal.
What are the risks involved in investing in the Fund?
There are inherent risks such as market risk, interest rate risk, and credit risk, including the possibility of principal loss.
What is MacKay Municipal Managers’ investment philosophy?
They focus on a relative value, research-driven approach to achieve strong long-term performance in the municipal bond market.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
