NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Shares Climb 0.2% – Here’s Why

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) shot up 0.2% on Friday. The stock traded as high as $37.01 and last traded at $36.89. 418,137 shares changed hands during trading, an increase of 1,152% from the average session volume of 33,391 shares. The stock had previously closed at $36.83.

NYLIM Merger Arbitrage ETF Stock Up 0.2%

The company’s fifty day moving average price is $36.73 and its two-hundred day moving average price is $36.51. The firm has a market cap of $265.61 million, a PE ratio of 25.78 and a beta of 0.06.

Institutional Trading of NYLIM Merger Arbitrage ETF

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in NYLIM Merger Arbitrage ETF by 17.7% during the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after purchasing an additional 1,010 shares during the last quarter. Collaborative Fund Advisors LLC acquired a new stake in NYLIM Merger Arbitrage ETF in the first quarter valued at $2,216,000. Finally, One Capital Management LLC purchased a new position in shares of NYLIM Merger Arbitrage ETF in the second quarter valued at $6,567,000.

NYLIM 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.