Short Interest in NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Decreases By 21.2%

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 6,597 shares, a drop of 21.2% from the March 15th total of 8,367 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 20,527 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MNA. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of NYLI Merger Arbitrage ETF by 293.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock worth $59,000 after purchasing an additional 1,220 shares in the last quarter. Parallel Advisors LLC increased its position in shares of NYLI Merger Arbitrage ETF by 3,467.5% during the 4th quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock valued at $204,000 after purchasing an additional 5,548 shares during the last quarter. Worth Asset Management LLC purchased a new stake in shares of NYLI Merger Arbitrage ETF during the 3rd quarter valued at $363,000. Farther Finance Advisors LLC increased its position in shares of NYLI Merger Arbitrage ETF by 85.0% during the 4th quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock valued at $1,311,000 after purchasing an additional 16,831 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in NYLI Merger Arbitrage ETF by 72.9% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 108,615 shares of the company’s stock worth $3,899,000 after acquiring an additional 45,792 shares during the last quarter.

NYLI Merger Arbitrage ETF Stock Up 0.3%

Shares of MNA traded up $0.10 during midday trading on Thursday, reaching $36.36. 16,344 shares of the stock were exchanged, compared to its average volume of 35,560. NYLI Merger Arbitrage ETF has a twelve month low of $34.00 and a twelve month high of $36.75. The company has a market cap of $254.52 million, a P/E ratio of 25.78 and a beta of 0.08. The stock’s 50 day simple moving average is $36.28 and its 200 day simple moving average is $36.02.

NYLI Merger Arbitrage ETF Company 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.