NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Significant Decline in Short Interest

NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 45,649 shares, a decline of 19.9% from the January 29th total of 57,007 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 179,875 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 179,875 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new stake in shares of NYLI MacKay Municipal Insured ETF in the fourth quarter worth approximately $1,712,000. Flow Traders U.S. LLC bought a new position in NYLI MacKay Municipal Insured ETF in the 2nd quarter valued at $1,547,000. NewEdge Advisors LLC purchased a new stake in NYLI MacKay Municipal Insured ETF in the first quarter worth $398,000. Cary Street Partners Financial LLC bought a new stake in shares of NYLI MacKay Municipal Insured ETF during the third quarter worth $202,000. Finally, Millstone Evans Group LLC lifted its position in shares of NYLI MacKay Municipal Insured ETF by 34.0% during the third quarter. Millstone Evans Group LLC now owns 5,673 shares of the company’s stock worth $135,000 after purchasing an additional 1,440 shares during the last quarter.

NYLI MacKay Municipal Insured ETF Price Performance

Shares of MMIN opened at $24.15 on Thursday. The company’s fifty day simple moving average is $24.13 and its 200-day simple moving average is $23.91. NYLI MacKay Municipal Insured ETF has a twelve month low of $22.30 and a twelve month high of $24.44.

NYLI MacKay Municipal Insured ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Friday, February 27th were paid a $0.0733 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a yield of 3.6%.

About NYLI MacKay Municipal Insured ETF

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.