MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Momentum Rank : 5 (As of May. 05, 2024)

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What is MainStay MacKay DefinedTerm Municipal Opportunities Fund Momentum Rank?

MainStay MacKay DefinedTerm Municipal Opportunities Fund has the Momentum Rank of 5.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Momentum Rank

For the Asset Management subindustry, MainStay MacKay DefinedTerm Municipal Opportunities Fund's Momentum Rank, along with its competitors' market caps and Momentum Rank 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 Momentum Rank Distribution in the Asset Management Industry

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

* The bar in red indicates where MainStay MacKay DefinedTerm Municipal Opportunities Fund's Momentum Rank falls into.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Momentum Rank Related Terms

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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 » Momentum Rank

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