NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Significant Growth in Short Interest

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 66,732 shares, an increase of 127.5% from the May 31st total of 29,331 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 200,235 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC bought a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter valued at $26,000. CIBC Private Wealth Group LLC bought a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter worth $27,000. BOKF NA bought a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 3rd quarter worth $53,000. Root Financial Partners LLC purchased a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the 4th quarter worth about $83,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $97,000 after acquiring an additional 584 shares during the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Stock Up 0.1%

MMIT traded up $0.02 during midday trading on Monday, reaching $24.43. The company had a trading volume of 162,168 shares, compared to its average volume of 353,719. NYLI MacKay Shields Municipal Intermediate ETF has a 12-month low of $23.68 and a 12-month high of $24.77. The business has a 50-day moving average price of $24.30 and a two-hundred day moving average price of $24.38.

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.