John J. Lawlor, portfolio manager at NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE:MMD), recently acquired 2,500 shares of beneficial interest in the fund. The purchase, which took place on November 20, 2024, was executed at a price of $15.79 per share, totaling approximately $39,475. This transaction marks Lawlor's current ownership at 2,500 shares.
InvestingPro Insights
John J. Lawlor's recent acquisition of MMD shares aligns with several key metrics and insights from InvestingPro. The fund's current dividend yield stands at an attractive 4.59%, which is particularly noteworthy given that MMD has maintained dividend payments for 13 consecutive years, according to an InvestingPro Tip. This consistent dividend history may have factored into Lawlor's decision to increase his stake.
The purchase price of $15.79 per share is close to the fund's previous closing price of $15.75, indicating that Lawlor's acquisition occurred near current market levels. Interestingly, an InvestingPro Tip suggests that the stock is trading near its 52-week low, which could signal a potential value opportunity that Lawlor is capitalizing on.
Despite a slight year-to-date price total return of 0.51%, the fund's one-year price total return stands at 4.95%, suggesting some resilience in its performance. The fund's market capitalization of $442.08 million and its P/E ratio of 34.93 provide context for its valuation relative to earnings.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide deeper insights into MMD's financial health and market position. The platform lists 7 more tips for MMD, which could be valuable for those considering following Lawlor's lead or evaluating the fund for their portfolios.
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