NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Sets New 1-Year High – Should You Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) reached a new 52-week high during trading on Thursday . The stock traded as high as $34.42 and last traded at $34.39, with a volume of 2947 shares traded. The stock had previously closed at $34.27.

NYLI Hedge Multi-Strategy Tracker ETF Stock Up 0.4%

The company’s 50 day simple moving average is $33.87 and its two-hundred day simple moving average is $33.46. The company has a market capitalization of $784.32 million, a price-to-earnings ratio of 18.21 and a beta of 0.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alaska Wealth Advisors boosted its stake in NYLI Hedge Multi-Strategy Tracker ETF by 3.5% in the 2nd quarter. Alaska Wealth Advisors now owns 942,248 shares of the company’s stock worth $30,453,000 after purchasing an additional 32,042 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 101.0% in the second quarter. Farther Finance Advisors LLC now owns 1,811 shares of the company’s stock worth $59,000 after buying an additional 910 shares during the last quarter. Alaska Permanent Capital Management LLC lifted its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 3.6% during the second quarter. Alaska Permanent Capital Management LLC now owns 1,541,694 shares of the company’s stock worth $49,858,000 after buying an additional 53,220 shares during the period. LFA Lugano Financial Advisors SA lifted its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 14.9% during the second quarter. LFA Lugano Financial Advisors SA now owns 103,139 shares of the company’s stock worth $3,333,000 after buying an additional 13,395 shares during the period. Finally, Brown Wealth Management LLC grew its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 33.3% during the second quarter. Brown Wealth Management LLC now owns 108,511 shares of the company’s stock valued at $3,507,000 after buying an additional 27,084 shares during the last quarter.

About NYLI Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.