NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Sets New 1-Year High – Still a Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) shares reached a new 52-week high on Friday . The company traded as high as $35.06 and last traded at $34.89, with a volume of 3518 shares traded. The stock had previously closed at $34.85.

NYLI Hedge Multi-Strategy Tracker ETF Stock Performance

The company has a market cap of $778.72 million, a price-to-earnings ratio of 18.21 and a beta of 0.32. The stock’s fifty day moving average is $34.43 and its two-hundred day moving average is $34.06.

Institutional Investors Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in QAI. Tredje AP fonden increased its stake in NYLI Hedge Multi-Strategy Tracker ETF by 102.4% in the 4th quarter. Tredje AP fonden now owns 6,275,000 shares of the company’s stock valued at $210,275,000 after buying an additional 3,175,000 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 1,022.9% in the 4th quarter. UMB Bank n.a. now owns 463,074 shares of the company’s stock worth $15,518,000 after purchasing an additional 421,836 shares during the period. Morgan Stanley lifted its stake in NYLI Hedge Multi-Strategy Tracker ETF by 5.9% in the fourth quarter. Morgan Stanley now owns 3,419,037 shares of the company’s stock valued at $114,572,000 after purchasing an additional 190,320 shares during the last quarter. UBS Group AG lifted its stake in NYLI Hedge Multi-Strategy Tracker ETF by 71.5% in the third quarter. UBS Group AG now owns 428,017 shares of the company’s stock valued at $14,394,000 after purchasing an additional 178,394 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in NYLI Hedge Multi-Strategy Tracker ETF by 40.8% in the third quarter. Verdence Capital Advisors LLC now owns 534,721 shares of the company’s stock valued at $18,196,000 after purchasing an additional 154,902 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.