NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Short Interest Up 84.5% in August

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 71,057 shares, a growth of 84.5% from the July 30th total of 38,513 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 19,418 shares, the days-to-cover ratio is currently 3.7 days.

NYLI Merger Arbitrage ETF Price Performance

Shares of NYSEARCA MNA traded down $0.33 during midday trading on Friday, hitting $36.59. The company’s stock had a trading volume of 26,848 shares, compared to its average volume of 31,074. The firm has a market capitalization of $252.47 million, a price-to-earnings ratio of 25.78 and a beta of 0.06. The business’s fifty day simple moving average is $36.59 and its two-hundred day simple moving average is $36.43. NYLI Merger Arbitrage ETF has a 1 year low of $34.91 and a 1 year high of $37.19.

Hedge Funds Weigh In On NYLI Merger Arbitrage ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its holdings in NYLI Merger Arbitrage ETF by 70.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 171,803 shares of the company’s stock worth $6,059,000 after purchasing an additional 71,109 shares during the period. Parallel Advisors LLC raised its holdings in NYLI Merger Arbitrage ETF by 3,467.5% in the fourth quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock valued at $204,000 after acquiring an additional 5,548 shares in the last quarter. Finally, Collaborative Fund Advisors LLC purchased a new position in NYLI Merger Arbitrage ETF in the first quarter worth approximately $2,216,000.

About NYLI Merger Arbitrage ETF

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.