NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 52-Week Low – Here’s What Happened

Shares of NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) reached a new 52-week low on Tuesday . The stock traded as low as $23.65 and last traded at $23.65, with a volume of 220745 shares traded. The stock had previously closed at $23.66.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Performance

The firm has a 50 day moving average of $24.03 and a 200 day moving average of $24.23.

Institutional Trading of NYLIM MacKay Shields Municipal Intermediate ETF

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock valued at $149,813,000 after acquiring an additional 471,765 shares during the period. Meeder Advisory Services Inc. increased its stake in NYLIM MacKay Shields Municipal Intermediate ETF by 30.3% in the first quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock valued at $70,983,000 after purchasing an additional 683,938 shares in the last quarter. Morgan Stanley increased its stake in NYLIM MacKay Shields Municipal Intermediate ETF by 7.0% in the fourth quarter. Morgan Stanley now owns 2,785,502 shares of the company’s stock valued at $67,771,000 after purchasing an additional 183,188 shares in the last quarter. Schneider Downs Wealth Management Advisors LP raised its holdings in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 22.0% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,242,166 shares of the company’s stock valued at $54,485,000 after purchasing an additional 403,900 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 5.5% during the 1st quarter. Cetera Investment Advisers now owns 2,053,468 shares of the company’s stock worth $49,499,000 after purchasing an additional 107,132 shares in the last quarter.

NYLIM MacKay Shields Municipal Intermediate ETF Company 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.