NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Sees Large Volume Increase – Should You Buy?

Shares of NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) saw strong trading volume on Monday . 190,936 shares traded hands during trading, an increase of 209% from the previous session’s volume of 61,770 shares.The stock last traded at $33.9350 and had previously closed at $33.74.

NYLI Hedge Multi-Strategy Tracker ETF Price Performance

The stock has a market cap of $779.93 million, a P/E ratio of 18.21 and a beta of 0.32. The stock has a 50-day simple moving average of $33.79 and a 200-day simple moving average of $33.29.

Hedge Funds Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

A number of institutional investors have recently added to or reduced their stakes in QAI. CW Advisors LLC bought a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the second quarter worth $6,909,000. UBS Group AG grew its position in NYLI Hedge Multi-Strategy Tracker ETF by 71.5% during the 3rd quarter. UBS Group AG now owns 428,017 shares of the company’s stock worth $14,394,000 after acquiring an additional 178,394 shares during the last quarter. Verdence Capital Advisors LLC grew its position in NYLI Hedge Multi-Strategy Tracker ETF by 40.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 534,721 shares of the company’s stock worth $18,196,000 after acquiring an additional 154,902 shares during the last quarter. Raymond James Financial Inc. increased its holdings in NYLI Hedge Multi-Strategy Tracker ETF by 49.7% in the 2nd quarter. Raymond James Financial Inc. now owns 457,776 shares of the company’s stock worth $14,795,000 after purchasing an additional 152,013 shares in the last quarter. Finally, Pitcairn Co. raised its position in NYLI Hedge Multi-Strategy Tracker ETF by 7.7% in the third quarter. Pitcairn Co. now owns 1,807,177 shares of the company’s stock valued at $60,775,000 after purchasing an additional 129,310 shares during the last quarter.

About NYLI Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.