MainStay CBRE Global Infrastructure Megatrends Fund said on April 14, 2023 that its board of directors declared a regular
monthly dividend of $0.11 per share ($1.30 annualized).
Previously, the company paid $0.11 per share.
Shares must be purchased before the ex-div date of April 21, 2023 to qualify for the dividend.
Shareholders of record as of April 24, 2023
will receive the payment on April 28, 2023.
At the current share price of $14.67 / share,
the stock’s dividend yield is 8.86%.
Looking back five years and taking a sample every week, the average dividend yield has been
8.11%,
the lowest has been 6.39%,
and the highest has been 10.79%.
The standard deviation of yields is 1.23 (n=65).
The current dividend yield is
0.61 standard deviations
above
the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 62 funds or institutions reporting positions in MainStay CBRE Global Infrastructure Megatrends Fund.
This is an increase
of
13
owner(s) or 26.53% in the last quarter.
Average portfolio weight of all funds dedicated to MEGI is 0.51%,
an increase
of 171.43%.
Total shares owned by institutions increased
in the last three months by 55.66% to 14,825K shares.
What are Other Shareholders Doing?
Mariner
holds 14K shares.
No change in the last quarter.
Susquehanna International Group, Llp
holds 10K shares.
Logan Stone Capital
holds 424K shares.
YYY – Amplify High Income ETF
holds 593K shares.
In it’s prior filing, the firm reported owning 561K shares, representing
an increase
of 5.29%.
The firm
increased
its portfolio allocation in MEGI by 0.71% over the last quarter.
Raymond James Financial Services Advisors
holds 51K shares.
In it’s prior filing, the firm reported owning 71K shares, representing
a decrease
of 37.24%.
The firm
decreased
its portfolio allocation in MEGI by 28.57% over the last quarter.
MainStay CBRE Global Infrastructure Megatrends Fund Background Information
(This description is provided by the company.)
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. The Fund seeks to achieve its investment objective by investing primarily in income-producing equity securities issued by infrastructure companies, including common stock, preferred stock, convertible securities and rights or warrants to buy common stocks. The Fund intends to focus on three infrastructure megatrends: (i) decarbonization, (ii) digital transformation and (iii) enhancement of aging infrastructure assets. The Fund expects to invest primarily in equity securities of companies located in a number of different countries, including the United States. The Fund may also invest in fixed income securities of infrastructure companies. The Fund will invest more than 25% of the value of its total assets at the time of purchase in the securities of issuers conducting their business activities in the infrastructure group of industries. The Fund’s Subadvisor, CBRE Clarion, defines an infrastructure company as a company that derives at least 50% of its revenues or profits from, or devotes at least 50% of its assets to, the ownership, management, development, construction, renovation, enhancement, or operation of infrastructure assets or the provision of services to companies engaged in such activities. Examples of infrastructure assets include transportation assets (such as toll roads, bridges, railroads, airports, and seaports), utility assets (such as electric transmission and distribution lines, gas distribution pipelines, water pipelines and treatment facilities, and sewer facilities), energy assets (such as oil and gas pipelines, storage facilities, and other facilities used for gathering, processing, or transporting hydrocarbon products as well as contracted renewable power assets), and communications assets (such as communications towers, data centers, fiber networks, and satellites.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
