Kingswood Wealth Advisors LLC Raises Stake in NYLI Merger Arbitrage ETF $MNA

Kingswood Wealth Advisors LLC lifted its holdings in shares of NYLI Merger Arbitrage ETF (NYSEARCA:MNA) by 37.9% in the second quarter, HoldingsChannel.com reports. The firm owned 62,823 shares of the company’s stock after acquiring an additional 17,258 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in NYLI Merger Arbitrage ETF were worth $2,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Q3 Asset Management purchased a new position in NYLI Merger Arbitrage ETF during the 1st quarter valued at about $3,796,000. Summit Financial LLC purchased a new position in NYLI Merger Arbitrage ETF during the 1st quarter valued at about $201,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of NYLI Merger Arbitrage ETF in the 2nd quarter valued at about $205,000.

NYLI Merger Arbitrage ETF Stock Performance

Shares of MNA opened at $35.83 on Wednesday. The stock has a 50-day simple moving average of $35.71 and a 200-day simple moving average of $35.11. The stock has a market capitalization of $254.39 million, a PE ratio of 25.78 and a beta of 0.13. NYLI Merger Arbitrage ETF has a 1 year low of $32.49 and a 1 year high of $36.73.

NYLI Merger Arbitrage ETF 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.