NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN – Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 101,550 shares, a growth of 84.7% from the July 15th total of 54,984 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 86,393 shares, the short-interest ratio is currently 1.2 days.
Hedge Funds Weigh In On NYLI MacKay Municipal Insured ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MMIN. Cornerstone Advisors Asset Management LLC raised its stake in NYLI MacKay Municipal Insured ETF by 5.2% during the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock valued at $16,605,000 after acquiring an additional 34,447 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of NYLI MacKay Municipal Insured ETF in the fourth quarter worth $1,712,000. Finally, NewEdge Advisors LLC grew its stake in shares of NYLI MacKay Municipal Insured ETF by 80.2% in the third quarter. NewEdge Advisors LLC now owns 33,991 shares of the company’s stock worth $809,000 after purchasing an additional 15,132 shares in the last quarter.
NYLI MacKay Municipal Insured ETF Price Performance
NYSEARCA MMIN traded down $0.13 on Monday, hitting $23.63. The stock had a trading volume of 114,991 shares, compared to its average volume of 89,015. The company’s 50-day moving average is $23.97 and its two-hundred day moving average is $24.01. NYLI MacKay Municipal Insured ETF has a one year low of $22.96 and a one year high of $24.44.
NYLI MacKay Municipal Insured ETF Company Profile
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.
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