NYLI MacKay DefinedTerm Muni Opportunities Fund portfolio manager John J. Lawlor sold 1,250 shares of beneficial interest on August 7, 2026, in two open-market transactions reported on a Form 4 filing. The sales totaled approximately $18,752, executed at $15.02 for 100 shares and $15.00 for 1,150 shares.
The transactions were not flagged as having been made under a Rule 10b5-1 trading plan, which allows insiders to schedule trades in advance. Lawlor's post-transaction direct holdings were reported as 3,250 shares in the Form 4, though a separate data provider cited a remaining position of 4,400 shares, a discrepancy that has not been reconciled in public filings.
MMD is a leveraged closed-end municipal bond fund managed by New York Life Investment Management, seeking current income exempt from regular U.S. federal income tax with a defined termination date of December 31, 2036. As of the fund's annual report for the year ended May 31, 2026, total net assets stood at $307.63 million with a net asset value of $16.38 per share. The market price at that time was $15.28, representing a 6.72% discount to NAV. The portfolio carried 36.02% leverage through $174.16 million in tender option bond liabilities.