NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) Short Interest Down 36.6% in July

NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 54,984 shares, a decrease of 36.6% from the June 30th total of 86,745 shares. Based on an average daily trading volume, of 72,119 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.3% of the company’s shares are short sold.

NYLI MacKay Municipal Insured ETF Trading Down 0.4%

NYSEARCA MMIN traded down $0.10 during trading hours on Friday, hitting $23.63. 100,351 shares of the company’s stock were exchanged, compared to its average volume of 88,163. NYLI MacKay Municipal Insured ETF has a 1-year low of $22.94 and a 1-year high of $24.44. The stock has a 50-day simple moving average of $24.03 and a 200 day simple moving average of $24.04.

Institutional Trading of NYLI MacKay Municipal Insured ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Asset Management LLC raised its position in NYLI MacKay Municipal Insured ETF by 5.2% in the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock valued at $16,605,000 after buying an additional 34,447 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of NYLI MacKay Municipal Insured ETF in the fourth quarter valued at $1,712,000. Finally, NewEdge Advisors LLC increased its stake in shares of NYLI MacKay Municipal Insured ETF by 80.2% in the third quarter. NewEdge Advisors LLC now owns 33,991 shares of the company’s stock worth $809,000 after purchasing an additional 15,132 shares in the last quarter.

NYLI MacKay Municipal Insured ETF Company Profile

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.