NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Shares Down 0.3% – Time to Sell?

Shares of NYLI Merger Arbitrage ETF (NYSEARCA:MNA) dropped 0.3% during mid-day trading on Monday . The stock traded as low as $36.49 and last traded at $36.49. 18,979 shares traded hands during trading, a decline of 41% from the average session volume of 32,415 shares. The stock had previously closed at $36.59.

NYLI Merger Arbitrage ETF Stock Down 0.3%

The company has a market cap of $251.78 million, a price-to-earnings ratio of 25.78 and a beta of 0.06. The company has a fifty day simple moving average of $36.46 and a two-hundred day simple moving average of $36.32.

Hedge Funds Weigh In On NYLI Merger Arbitrage ETF

Several hedge funds have recently added to or reduced their stakes in MNA. Parallel Advisors LLC lifted its position in shares of NYLI Merger Arbitrage ETF by 17.7% during the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after purchasing an additional 1,010 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in NYLI Merger Arbitrage ETF by 293.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after purchasing an additional 1,220 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in NYLI Merger Arbitrage ETF by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock valued at $4,008,000 after purchasing an additional 3,378 shares in the last quarter. Farther Finance Advisors LLC increased its stake in 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 worth $1,311,000 after buying an additional 16,831 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in NYLI Merger Arbitrage ETF by 10.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after buying an additional 17,920 shares during the period.

NYLI Merger Arbitrage ETF Company Profile

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.