NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Strong Trading Volume – Still a Buy?

Shares of NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw unusually-high trading volume on Thursday. 1,088,311 shares traded hands during mid-day trading, an increase of 157% from the previous session’s volume of 423,838 shares. The stock last traded at $22.87 and had previously closed at $22.90.

NYLIM MacKay Shields Municipal Intermediate ETF Trading Up 0.3%

The firm has a fifty day simple moving average of $23.59 and a 200-day simple moving average of $24.02.

Hedge Funds Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Large investors have recently made changes to their positions in the company. RFG Bristol Wealth Advisors LLC increased its position in NYLIM MacKay Shields Municipal Intermediate ETF by 9.8% in the third quarter. RFG Bristol Wealth Advisors LLC now owns 36,139 shares of the company’s stock worth $827,000 after purchasing an additional 3,237 shares during the period. Titleist Asset Management LLC lifted its position in NYLIM MacKay Shields Municipal Intermediate ETF by 8.2% during the 3rd quarter. Titleist Asset Management LLC now owns 98,857 shares of the company’s stock valued at $2,262,000 after purchasing an additional 7,457 shares during the period. Avidian Wealth Enterprises LLC acquired a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the 3rd quarter valued at about $667,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 0.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 460,915 shares of the company’s stock valued at $10,546,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 37.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,083 shares of the company’s stock valued at $367,000 after purchasing an additional 4,075 shares during 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.