MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Debt-to-Equity : 0.41 (As of Nov. 2023)

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What is MainStay MacKay DefinedTerm Municipal Opportunities Fund Debt-to-Equity?

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Nov. 2023 was $0.00 Mil. MainStay MacKay DefinedTerm Municipal Opportunities Fund's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Nov. 2023 was $190.51 Mil. MainStay MacKay DefinedTerm Municipal Opportunities Fund's Total Stockholders Equity for the quarter that ended in Nov. 2023 was $467.97 Mil. MainStay MacKay DefinedTerm Municipal Opportunities Fund's debt to equity for the quarter that ended in Nov. 2023 was 0.41.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity or its related term are showing as below:

MMD' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.41 Med: 0.53 Max: 0.65
Current: 0.41

During the past 6 years, the highest Debt-to-Equity Ratio of MainStay MacKay DefinedTerm Municipal Opportunities Fund was 0.65. The lowest was 0.41. And the median was 0.53.

MMD's Debt-to-Equity is ranked worse than
67.58% of 1018 companies
in the Asset Management industry
Industry Median: 0.19 vs MMD: 0.41

MainStay MacKay DefinedTerm Municipal Opportunities Fund Debt-to-Equity Historical Data

The historical data trend for MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Debt-to-Equity Chart

MainStay MacKay DefinedTerm Municipal Opportunities Fund Annual Data

Trend

May18

May19

May20

May21

May22

May23

Debt-to-Equity

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0.46

0.53

0.57

0.64

0.55

MainStay MacKay DefinedTerm Municipal Opportunities Fund Semi-Annual Data
	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
Debt-to-Equity	Get a 7-Day Free Trial								0.55	0.64	0.65	0.55	0.41

Competitive Comparison of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity

For the Asset Management subindustry, MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity falls into.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt to Equity Ratio for the fiscal year that ended in May. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0	+	262.11)	/	473.941
	=	0.55

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt to Equity Ratio for the quarter that ended in Nov. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(0	+	190.51)	/	467.971
	=	0.41

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Debt-to-Equity Related Terms

Thank you for viewing the detailed overview of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Debt-to-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.

MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

N/A

Address

51 Madison Avenue, New York, NY, USA, 10010

Website

https://www.nylinvestments.com

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a USA-based diversified closed-end management investment company. The fund's investment objective is to seek current income exempt from regular U.S. Federal income taxes as well as total return. The company may also invest in TOB (Tender Option Bonds) Floaters and TOB Residuals issued by the TOB Issuer. It evaluates its performance against Barclays Municipal Bond Index.

Executives

Michael Denlinger	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Naim Abou-jaoude	other: CEO, NY LIFE INVEST MGMENT LLC	200 ALDERSGATE STREET, C/O CANDRIAM, NORTH ENTRANCE, LONDON X0 EC1A4HD
Michael Petty	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Alain M Karaoglan	other: Chairman & Interim CEO	230 PARK AVENUE, NEW YORK NY 10169
Kevin M Gleason	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Robert A Dimella	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Scott Sprauer	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Karen Hammond	other: Advisory Board Member	1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Yie-hsin Hung	other: Executive Vice President	30 HUDSON STREET, JERSEY CITY NJ 07302
Jeffrey S Phlegar	other: CEO of Subadvisor
Yi-chia Kuo	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Nolan Richard H Jr	director	51 MADISON AVENUE, NEW YORK NY 10010
John J Lawlor	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Kirk C Lehneis	officer: President	51 MADISON AVENUE, NEW YORK NY 10010
Stephen P. Fisher	officer: President	169 LACKAWANNA AVENUE, PARSIPPANY NJ 07054