MainStay DefinedTerm Municipal Opportunities Fund (MMD)’s Stock Formed A Several Months Wedge Up

July 14, 2018 - By Carol Mulligan

Investors sentiment decreased to 1.6 in Q1 2018. Its down 0.78, from 2.38 in 2017Q4. It dived, as 1 investors sold MainStay DefinedTerm Municipal Opportunities Fund shares while 9 reduced holdings. 3 funds opened positions while 13 raised stakes. 3.59 million shares or 2.80% more from 3.49 million shares in 2017Q4 were reported.
Pnc Services Gp owns 9,060 shares. Summit Finance Wealth Advsr Ltd Company accumulated 15,600 shares. Bokf Na has 0.01% invested in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Morgan Stanley has invested 0% in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). 500,365 were reported by Raymond James & Assocs. Royal Fincl Bank Of Canada invested in 114,164 shares or 0% of the stock. Stifel Financial invested 0% of its portfolio in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Citigroup holds 0% or 6,935 shares in its portfolio. The North Carolina-based National Bank & Trust Of America Corporation De has invested 0% in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Moreover, Lpl Fin Ltd Liability Company has 0% invested in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) for 19,924 shares. Stratos Wealth Prtn Limited accumulated 24,850 shares. Janney Montgomery Scott Llc has 0.01% invested in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) for 27,302 shares. Advisors Asset Mgmt reported 215,140 shares. Ameriprise stated it has 14,984 shares. Botty Ltd Co has 2,460 shares for 0.02% of their portfolio.

The stock of MainStay DefinedTerm Municipal Opportunities Fund (MMD) formed an up wedge with $20.28 target or 4.00 % above today’s $19.50 share price. The 6 months wedge indicates low risk for the $ company. If the $20.28 price target is reached, the company will be worth $ more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.70% or $0.14 during the last trading session, reaching $19.5. About 68,304 shares traded or 24.76% up from the average. MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) has declined 0.15% since July 14, 2017 and is downtrending. It has underperformed by 12.72% the S&P500.

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