NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Reaches New 12-Month High – Here’s What Happened

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $24.69 and last traded at $24.6750, with a volume of 3274 shares changing hands. The stock had previously closed at $24.66.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

The stock’s 50 day moving average price is $24.45 and its two-hundred day moving average price is $24.28.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th were given a dividend of $0.0733 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, January 30th.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several hedge funds and other institutional investors have recently modified their holdings of MMIT. CWM LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter valued at approximately $27,000. BOKF NA purchased a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the third quarter valued at approximately $53,000. Root Financial Partners LLC acquired a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter worth about $83,000. Finally, Rossby Financial LCC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the third quarter valued at $95,000.

NYLI MacKay Shields Municipal Intermediate ETF Company Profile

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.