Short Interest in NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Grows By 265.0%

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 83,002 shares, an increase of 265.0% from the April 15th total of 22,739 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 30,137 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of NYLI Merger Arbitrage ETF

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 85.0% during the 4th quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock valued at $1,311,000 after buying an additional 16,831 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of NYLI Merger Arbitrage ETF by 293.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock worth $59,000 after purchasing an additional 1,220 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NYLI Merger Arbitrage ETF by 10.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after purchasing an additional 17,920 shares during the period. Parallel Advisors LLC raised its holdings in shares of NYLI Merger Arbitrage ETF by 17.7% in the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after purchasing an additional 1,010 shares during the period. Finally, Collaborative Fund Advisors LLC purchased a new position in shares of NYLI Merger Arbitrage ETF in the 1st quarter worth about $2,216,000.

NYLI Merger Arbitrage ETF Stock Down 0.6%

MNA stock opened at $36.39 on Thursday. NYLI Merger Arbitrage ETF has a 52-week low of $34.50 and a 52-week high of $37.19. The stock’s fifty day simple moving average is $36.30 and its 200-day simple moving average is $36.09. The stock has a market capitalization of $251.09 million, a price-to-earnings ratio of 25.78 and a beta of 0.07.

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.