NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Sees Significant Drop in Short Interest

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 38,513 shares, a drop of 68.6% from the July 15th total of 122,847 shares. Based on an average trading volume of 15,600 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.6% of the company’s stock are short sold.

NYLI Merger Arbitrage ETF Stock Up 0.3%

Shares of NYLI Merger Arbitrage ETF stock traded up $0.10 during trading hours on Friday, reaching $36.85. 13,805 shares of the stock traded hands, compared to its average volume of 31,164. NYLI Merger Arbitrage ETF has a one year low of $34.91 and a one year high of $37.19. The company has a 50 day moving average price of $36.51 and a 200 day moving average price of $36.38. The firm has a market capitalization of $254.26 million, a price-to-earnings ratio of 25.78 and a beta of 0.06.

Institutional Trading of NYLI Merger Arbitrage ETF

A number of large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its position in shares of NYLI Merger Arbitrage ETF by 70.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 171,803 shares of the company’s stock valued at $6,059,000 after buying an additional 71,109 shares in the last quarter. Farther Finance Advisors LLC increased its stake in NYLI Merger Arbitrage ETF by 85.0% during the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after acquiring an additional 16,831 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in NYLI Merger Arbitrage ETF by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock worth $4,008,000 after acquiring an additional 3,378 shares during the last quarter. Parallel Advisors LLC raised its position in NYLI Merger Arbitrage ETF by 3,467.5% during the fourth quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock valued at $204,000 after purchasing an additional 5,548 shares during the period. Finally, Collaborative Fund Advisors LLC purchased a new stake in NYLI Merger Arbitrage ETF during the first quarter valued at approximately $2,216,000.

NYLI Merger Arbitrage ETF Company Profile

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.