NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Hits New 1-Year High – Should You Buy?

Shares of NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.42 and last traded at $34.39, with a volume of 2947 shares changing hands. The stock had previously closed at $34.27.

NYLI Hedge Multi-Strategy Tracker ETF Stock Performance

The stock has a market cap of $784.09 million, a P/E ratio of 18.21 and a beta of 0.32. The stock’s 50-day moving average is $33.90 and its 200-day moving average is $33.48.

Institutional Trading of NYLI Hedge Multi-Strategy Tracker ETF

A number of hedge funds have recently bought and sold shares of QAI. Johnson Financial Group Inc. acquired a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the 2nd quarter worth about $39,000. Advisors Preferred LLC grew its position in shares of NYLI Hedge Multi-Strategy Tracker ETF by 117.4% during the 3rd quarter. Advisors Preferred LLC now owns 1,263 shares of the company’s stock worth $43,000 after buying an additional 682 shares during the period. J.Safra Asset Management Corp acquired a new position in NYLI Hedge Multi-Strategy Tracker ETF in the 2nd quarter worth $57,000. Farther Finance Advisors LLC lifted its position in NYLI Hedge Multi-Strategy Tracker ETF by 101.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,811 shares of the company’s stock worth $59,000 after buying an additional 910 shares in the last quarter. Finally, CWM LLC lifted its stake in NYLI Hedge Multi-Strategy Tracker ETF by 30.5% in the third quarter. CWM LLC now owns 1,884 shares of the company’s stock valued at $63,000 after acquiring an additional 440 shares during the last quarter.

NYLI Hedge Multi-Strategy Tracker ETF Company Profile

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.