Orgel Wealth Management LLC Increases Position in NYLI MacKay Shields Municipal Intermediate ETF $MMIT

Orgel Wealth Management LLC grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,325,741 shares of the company’s stock after purchasing an additional 222,858 shares during the period. NYLI MacKay Shields Municipal Intermediate ETF makes up about 3.4% of Orgel Wealth Management LLC’s holdings, making the stock its 11th largest holding. Orgel Wealth Management LLC owned about 0.12% of NYLI MacKay Shields Municipal Intermediate ETF worth $153,905,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 12.5% in the first quarter. Royal Bank of Canada now owns 97,836 shares of the company’s stock valued at $2,345,000 after buying an additional 10,902 shares in the last quarter. Jane Street Group LLC lifted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 128.9% during the 1st quarter. Jane Street Group LLC now owns 437,354 shares of the company’s stock worth $10,483,000 after acquiring an additional 246,326 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 36.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 196,002 shares of the company’s stock valued at $4,675,000 after acquiring an additional 52,003 shares during the period. Titleist Asset Management LLC boosted its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 1.2% during the 2nd quarter. Titleist Asset Management LLC now owns 36,209 shares of the company’s stock valued at $864,000 after acquiring an additional 433 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock valued at $97,000 after acquiring an additional 584 shares in the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Trading Down 0.6%

Shares of NYSEARCA:MMIT opened at $24.22 on Friday. The firm’s 50-day moving average is $24.54 and its two-hundred day moving average is $24.39. NYLI MacKay Shields Municipal Intermediate ETF has a 1 year low of $22.99 and a 1 year high of $24.77.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, March 3rd. Investors of record on Friday, February 27th were issued a $0.0668 dividend. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%.

About NYLI MacKay Shields Municipal Intermediate ETF

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.