NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Significant Increase in Short Interest

NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 587,576 shares, an increase of 424.2% from the October 15th total of 112,085 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 688,676 shares, the short-interest ratio is presently 0.9 days.

NYLIM MacKay Municipal Insured ETF Stock Down 0.6%

Shares of NYSEARCA MMIN traded down $0.13 during trading on Friday, hitting $23.03. The company had a trading volume of 147,562 shares, compared to its average volume of 154,411. The stock has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $23.69. NYLIM MacKay Municipal Insured ETF has a fifty-two week low of $22.11 and a fifty-two week high of $24.44.

Institutional Investors Weigh In On NYLIM MacKay Municipal Insured ETF

Institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. purchased a new stake in NYLIM MacKay Municipal Insured ETF during the 3rd quarter worth approximately $128,000. Cornerstone Wealth Management LLC purchased a new position in shares of NYLIM MacKay Municipal Insured ETF in the third quarter valued at approximately $252,000. Lakeshore Capital Group Inc. purchased a new position in shares of NYLIM MacKay Municipal Insured ETF in the third quarter valued at approximately $358,000. Fifth Third Bancorp acquired a new stake in shares of NYLIM MacKay Municipal Insured ETF in the third quarter worth approximately $450,000. Finally, Cooper Financial Group boosted its stake in shares of NYLIM MacKay Municipal Insured ETF by 38.6% in the third quarter. Cooper Financial Group now owns 20,286 shares of the company’s stock worth $452,000 after acquiring an additional 5,645 shares during the last quarter.

About NYLIM MacKay Municipal Insured ETF

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.