Form 4: MacKay DefinedTerm Muni Opportunities Fund Portfolio Manager Acquires Shares

David Dowden, a Portfolio Manager at MacKay DefinedTerm Muni Opportunities Fund, purchased 3,300 shares of the fund on January 17, 2025.

Summary

• David Dowden, a Portfolio Manager at MacKay DefinedTerm Muni Opportunities Fund, acquired 3,300 shares of the fund's beneficial interest.
• The transaction occurred on January 17, 2025.
• The shares were purchased at a price of $14.9238 per share.
• The shares are directly owned by Mr. Dowden.

Sentiment

Score: 7

Explanation: The document indicates a positive action by a portfolio manager, suggesting confidence in the fund, which is generally viewed favorably by investors.

Positives

• The purchase of shares by a portfolio manager could be seen as a positive sign of confidence in the fund's future performance.

Industry Context

This type of transaction is common in the investment management industry, where portfolio managers often hold shares in the funds they manage.

Comparison to Industry Standards

• Portfolio managers purchasing shares in their own funds is a common practice across the investment management industry.
• This action is often viewed positively by investors as it aligns the manager's interests with those of the fund's shareholders.
• Similar transactions can be seen at firms like BlackRock, Vanguard, and Fidelity, where fund managers regularly report their holdings.

Stakeholder Impact

• The purchase of shares by the portfolio manager may positively influence shareholder confidence.

Key Dates

Keywords

MacKay DefinedTerm Muni Opportunities Fund, Portfolio Manager, Share Acquisition, David Dowden, MMD, Beneficial Interest