NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Volume Increase – Time to Buy?

Shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw an uptick in trading volume on Wednesday . 1,133,909 shares were traded during trading, an increase of 289% from the previous session’s volume of 291,390 shares.The stock last traded at $24.14 and had previously closed at $24.10.

NYLI MacKay Shields Municipal Intermediate ETF Stock Up 0.2%

The business’s fifty day moving average is $24.49 and its 200 day moving average is $24.40.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

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

Institutional Trading of NYLI MacKay Shields Municipal Intermediate ETF

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in NYLI MacKay Shields Municipal Intermediate ETF by 105.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 172,365 shares of the company’s stock valued at $4,194,000 after purchasing an additional 88,295 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at $790,000. 46 Peaks LLC purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at $4,453,000. Axxcess Wealth Management LLC grew its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 2.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 43,206 shares of the company’s stock valued at $1,051,000 after acquiring an additional 1,103 shares in the last quarter. Finally, OLD Mission Capital LLC acquired a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter worth $375,000.

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.