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

Shares of NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $36.32 and last traded at $36.31, with a volume of 1797 shares changing hands. The stock had previously closed at $36.05.

NYLI Hedge Multi-Strategy Tracker ETF Stock Performance

The company has a market cap of $875.79 million, a PE ratio of 18.21 and a beta of 0.34. The company’s 50-day simple moving average is $35.11 and its 200 day simple moving average is $34.48.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alaska Wealth Advisors boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 4.6% in the 3rd quarter. Alaska Wealth Advisors now owns 986,028 shares of the company’s stock valued at $33,160,000 after buying an additional 43,780 shares during the period. Patten Group Inc. boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 133.8% in the 4th quarter. Patten Group Inc. now owns 53,202 shares of the company’s stock valued at $1,783,000 after buying an additional 30,445 shares during the period. Elyxium Wealth LLC purchased a new position in NYLI Hedge Multi-Strategy Tracker ETF in the 4th quarter valued at approximately $1,828,000. Pitcairn Co. boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 7.7% in the 3rd quarter. Pitcairn Co. now owns 1,807,177 shares of the company’s stock valued at $60,775,000 after buying an additional 129,310 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 17.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 625,462 shares of the company’s stock valued at $20,959,000 after buying an additional 90,741 shares during the period.

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.