MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) Plans Monthly Dividend of $0.13

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI) announced a monthly dividend on Monday, September 16th, NASDAQ reports. Stockholders of record on Thursday, September 26th will be paid a dividend of 0.125 per share on Monday, September 30th. This represents a $1.50 annualized dividend and a dividend yield of 10.30%. The ex-dividend date is Thursday, September 26th.

MainStay CBRE Global Infrastructure Megatrends Term Fund Trading Up 1.3 %

Shares of NYSE:MEGI traded up $0.19 during mid-day trading on Monday, reaching $14.56. The company had a trading volume of 114,194 shares, compared to its average volume of 138,495. MainStay CBRE Global Infrastructure Megatrends Term Fund has a one year low of $10.63 and a one year high of $14.57. The company’s 50-day moving average price is $13.55 and its 200-day moving average price is $12.91.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. acquired 18,430 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $12.43 per share, with a total value of $229,084.90. Following the acquisition, the insider now owns 5,729,702 shares in the company, valued at approximately $71,220,195.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.