Royal Bank of Canada Raises Stock Position in NYLI MacKay Shields Municipal Intermediate ETF $MMIT

Royal Bank of Canada grew its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) by 23.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 712,696 shares of the company’s stock after acquiring an additional 137,591 shares during the period. Royal Bank of Canada owned about 1.10% of NYLI MacKay Shields Municipal Intermediate ETF worth $17,180,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CWM LLC bought a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter worth $26,000. CIBC Private Wealth Group LLC purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the fourth quarter valued at $27,000. BOKF NA bought a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF in the third quarter valued at about $53,000. Root Financial Partners LLC bought a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter valued at about $83,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after acquiring an additional 584 shares during the period.

NYLI MacKay Shields Municipal Intermediate ETF Stock Down 0.3%

NYSEARCA:MMIT opened at $24.00 on Friday. NYLI MacKay Shields Municipal Intermediate ETF has a 1-year low of $23.77 and a 1-year high of $24.77. The company has a 50-day moving average of $24.24 and a 200 day moving average of $24.34.

NYLI MacKay Shields Municipal Intermediate ETF 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.