Short Interest in NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Expands By 733.0%

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 90,421 shares, a growth of 733.0% from the February 12th total of 10,855 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average trading volume of 26,736 shares, the days-to-cover ratio is currently 3.4 days. Based on an average trading volume of 26,736 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.3% of the shares of the stock are short sold.

NYLI Merger Arbitrage ETF Stock Down 0.5%

Shares of MNA stock traded down $0.19 during trading hours on Tuesday, hitting $36.13. 70,106 shares of the company were exchanged, compared to its average volume of 38,681. NYLI Merger Arbitrage ETF has a 1 year low of $33.40 and a 1 year high of $36.73. The firm has a fifty day moving average of $36.15 and a 200 day moving average of $35.93. The firm has a market cap of $252.91 million, a PE ratio of 25.78 and a beta of 0.06.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its holdings in NYLI Merger Arbitrage ETF by 70.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 171,803 shares of the company’s stock worth $6,059,000 after buying an additional 71,109 shares during the period. Worth Asset Management LLC bought a new stake in NYLI Merger Arbitrage ETF in the 3rd quarter valued at $363,000. Kingswood Wealth Advisors LLC raised its stake in NYLI Merger Arbitrage ETF by 72.9% in the third quarter. Kingswood Wealth Advisors LLC now owns 108,615 shares of the company’s stock valued at $3,899,000 after purchasing an additional 45,792 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NYLI Merger Arbitrage ETF by 293.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 85.0% in the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after purchasing an additional 16,831 shares during the last quarter.

About NYLI Merger Arbitrage ETF

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.