MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Net Cash per Share : $-6.68 (As of Nov. 2023)
MMD's Price-to-Net-Cash is not ranked *
in the Asset Management industry.
Industry Median: 6.29 * Ranked among companies with meaningful Price-to-Net-Cash only.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Net Cash per Share Historical Data
* 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.
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MainStay MacKay DefinedTerm Municipal Opportunities Fund Net Cash per Share Chart
MainStay MacKay DefinedTerm Municipal Opportunities Fund Annual Data
* 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 Price-to-Net-Cash Distribution in the Asset Management Industry
* The bar in red indicates where MainStay MacKay DefinedTerm Municipal Opportunities Fund's Price-to-Net-Cash falls into.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Net Cash per Share Calculation
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
* 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.
MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
MainStay MacKay DefinedTerm Municipal Opportunities Fund Net Cash per Share Related Terms
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MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Business Description
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.
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