NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Reaches New 12-Month High – Still a Buy?

Shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.57 and last traded at $24.5550, with a volume of 53625 shares. The stock had previously closed at $24.52.

NYLI MacKay Shields Municipal Intermediate ETF Stock Up 0.2%

The firm’s fifty day simple moving average is $24.40 and its two-hundred day simple moving average is $24.23.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th were paid a $0.0733 dividend. The ex-dividend date was Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 3.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Titleist Asset Management LLC grew its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.2% during the second quarter. Titleist Asset Management LLC now owns 36,209 shares of the company’s stock worth $864,000 after buying an additional 433 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 2.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 15,991 shares of the company’s stock worth $389,000 after buying an additional 433 shares in the last quarter. Opes Wealth Management LLC grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.2% in the third quarter. Opes Wealth Management LLC now owns 39,735 shares of the company’s stock valued at $966,000 after purchasing an additional 480 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after acquiring an additional 584 shares during the last quarter. Finally, United Community Bank raised its stake in NYLI MacKay Shields Municipal Intermediate ETF by 12.6% in the 4th quarter. United Community Bank now owns 5,375 shares of the company’s stock valued at $131,000 after purchasing an additional 600 shares during the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Company Profile

The IQ MacKay Municipal Intermediate ETF (MMIT) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed to provide enhanced total-return potential by investing mainly in investment-grade, AMT-free US municipal bonds with duration between 3-10 years. MMIT was launched on Oct 18, 2017 and is managed by IndexIQ.