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

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

Institutional Investors Weigh In On NYLIM MacKay Municipal Insured ETF

Several hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. purchased a new position in shares of NYLIM MacKay Municipal Insured ETF during the 3rd quarter valued at approximately $128,000. Cornerstone Wealth Management LLC purchased a new position in NYLIM MacKay Municipal Insured ETF in the 3rd quarter valued at $252,000. Lakeshore Capital Group Inc. acquired a new position in NYLIM MacKay Municipal Insured ETF during the third quarter worth about $358,000. Fifth Third Bancorp purchased a new stake in shares of NYLIM MacKay Municipal Insured ETF in the third quarter valued at approximately $450,000. Finally, Cooper Financial Group grew its holdings in NYLIM MacKay Municipal Insured ETF by 38.6% in the 3rd quarter. Cooper Financial Group now owns 20,286 shares of the company’s stock valued at $452,000 after buying an additional 5,645 shares in the last quarter.

NYLIM MacKay Municipal Insured ETF Stock Performance

MMIN traded up $0.07 on Wednesday, reaching $23.36. 39,547 shares of the stock were exchanged, compared to its average volume of 153,744. NYLIM MacKay Municipal Insured ETF has a fifty-two week low of $22.11 and a fifty-two week high of $24.44. The company’s 50-day moving average price is $22.83 and its 200 day moving average price is $23.69.

NYLIM 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.