NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Strong Trading Volume – Should You Buy?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) shares saw unusually-high trading volume on Friday . Approximately 211,399 shares traded hands during trading, a decline of 38% from the previous session’s volume of 339,350 shares.The stock last traded at $24.22 and had previously closed at $24.21.

NYLI MacKay Shields Municipal Intermediate ETF Stock Down 0.1%

The firm’s 50 day moving average price is $24.29 and its two-hundred day moving average price is $24.38.

Institutional Trading of NYLI MacKay Shields Municipal Intermediate ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC grew its stake in NYLI MacKay Shields Municipal Intermediate ETF by 22.3% during the 4th quarter. Smallwood Wealth Investment Management LLC now owns 162,444 shares of the company’s stock valued at $3,952,000 after purchasing an additional 29,619 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the 4th quarter valued at approximately $1,448,000. Vicus Capital raised its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 7.7% in the 4th quarter. Vicus Capital now owns 379,218 shares of the company’s stock valued at $9,226,000 after purchasing an additional 27,018 shares in the last quarter. Orgel Wealth Management LLC boosted its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 3.7% during the 4th quarter. Orgel Wealth Management LLC now owns 6,325,741 shares of the company’s stock valued at $153,905,000 after buying an additional 222,858 shares during the last quarter. Finally, Kennebec Savings Bank boosted its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 486.7% during the 4th quarter. Kennebec Savings Bank now owns 44,053 shares of the company’s stock valued at $1,072,000 after buying an additional 36,545 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.