NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Large Volume Increase – Still a Buy?

NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) shares saw an uptick in trading volume on Wednesday. 444,134 shares were traded during mid-day trading, an increase of 221% from the average daily volume of 138,258 shares. The stock last traded at $23.04 and had previously closed at $23.06.

NYLIM MacKay Municipal Insured ETF Stock Up 0.1%

The stock’s 50 day moving average is $22.88 and its 200 day moving average is $23.73.

Institutional Trading of NYLIM MacKay Municipal Insured ETF

Hedge funds have recently modified their holdings of the company. Cornerstone Advisors Asset Management LLC increased its holdings in NYLIM MacKay Municipal Insured ETF by 5.2% during the first quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock worth $16,605,000 after buying an additional 34,447 shares during the last quarter. ACT Advisors LLC. boosted its position in shares of NYLIM MacKay Municipal Insured ETF by 7.0% during the third quarter. ACT Advisors LLC. now owns 594,619 shares of the company’s stock valued at $13,236,000 after buying an additional 39,061 shares during the last quarter. Purus Wealth Management LLC boosted its stake in NYLIM MacKay Municipal Insured ETF by 6.4% in the third quarter. Purus Wealth Management LLC now owns 77,485 shares of the company’s stock valued at $1,725,000 after acquiring an additional 4,690 shares during the last quarter. Lebenthal Global Advisors LLC purchased a new position in shares of NYLIM MacKay Municipal Insured ETF in the third quarter worth about $520,000. Finally, Cooper Financial Group lifted its holdings in shares of NYLIM MacKay Municipal Insured ETF by 38.6% during the 3rd quarter. Cooper Financial Group now owns 20,286 shares of the company’s stock worth $452,000 after acquiring an additional 5,645 shares during the last quarter.

NYLIM MacKay Municipal Insured ETF Company Profile

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.