NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Unusually-High Trading Volume – What’s Next?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) shares saw unusually-strong trading volume on Tuesday . Approximately 763,162 shares changed hands during mid-day trading, an increase of 139% from the previous session’s volume of 319,946 shares.The stock last traded at $24.5050 and had previously closed at $24.49.

NYLI MacKay Shields Municipal Intermediate ETF Trading Up 0.1%

The firm’s 50 day moving average price is $24.40 and its two-hundred day moving average price is $24.22.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th will be paid a $0.0733 dividend. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, January 30th.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Large investors have recently modified their holdings of the stock. Titleist Asset Management LLC grew its position in NYLI MacKay Shields Municipal Intermediate ETF by 1.2% in the 2nd quarter. Titleist Asset Management LLC now owns 36,209 shares of the company’s stock valued at $864,000 after buying an additional 433 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in NYLI MacKay Shields Municipal Intermediate ETF by 2.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 15,991 shares of the company’s stock worth $389,000 after buying an additional 433 shares during the last quarter. Opes Wealth Management LLC lifted its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.2% in the 3rd quarter. Opes Wealth Management LLC now owns 39,735 shares of the company’s stock worth $966,000 after acquiring an additional 480 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock valued at $97,000 after acquiring an additional 584 shares in the last quarter. Finally, United Community Bank increased its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 12.6% during the fourth quarter. United Community Bank now owns 5,375 shares of the company’s stock worth $131,000 after acquiring an additional 600 shares during the period.

About NYLI MacKay Shields Municipal Intermediate ETF

The IQ MacKay Municipal Intermediate ETF (MMIT) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed to provide enhanced total-return potential by investing mainly in investment-grade, AMT-free US municipal bonds with duration between 3-10 years. MMIT was launched on Oct 18, 2017 and is managed by IndexIQ.