NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sets New 12-Month High – Time to Buy?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s stock price reached a new 52-week high on Monday . The company traded as high as $24.72 and last traded at $24.7150, with a volume of 238826 shares traded. The stock had previously closed at $24.69.

NYLI MacKay Shields Municipal Intermediate ETF Trading Up 0.1%

The stock’s 50 day simple moving average is $24.49 and its two-hundred day simple moving average is $24.32.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th were paid 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 was Friday, January 30th.

Institutional Trading of NYLI MacKay Shields Municipal Intermediate ETF

A number of institutional investors and hedge funds have recently modified their holdings of MMIT. Axxcess Wealth Management LLC lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 2.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 43,206 shares of the company’s stock valued at $1,051,000 after purchasing an additional 1,103 shares in the last quarter. Corient Private Wealth LLC bought a new position in NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at about $790,000. OLD Mission Capital LLC bought a new position in NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at about $375,000. Main Street Financial Solutions LLC boosted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 2.3% during the 4th quarter. Main Street Financial Solutions LLC now owns 276,022 shares of the company’s stock valued at $6,716,000 after acquiring an additional 6,320 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 268.6% in the fourth quarter. IHT Wealth Management LLC now owns 35,944 shares of the company’s stock worth $875,000 after acquiring an additional 26,193 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.