NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Significant Drop in Short Interest

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 17,003 shares, a decrease of 71.0% from the June 30th total of 58,669 shares. Based on an average daily volume of 230,521 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

NYLI MacKay Shields Municipal Intermediate ETF Price Performance

Shares of NYSEARCA:MMIT traded up $0.05 during trading on Monday, hitting $24.01. The company had a trading volume of 167,591 shares, compared to its average volume of 341,369. NYLI MacKay Shields Municipal Intermediate ETF has a one year low of $23.72 and a one year high of $24.77. The company has a fifty day simple moving average of $24.27 and a two-hundred day simple moving average of $24.36.

Institutional Trading of NYLI MacKay Shields Municipal Intermediate ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 12.5% during the first quarter. Royal Bank of Canada now owns 97,836 shares of the company’s stock worth $2,345,000 after buying an additional 10,902 shares during the period. Jane Street Group LLC raised its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 128.9% in the first quarter. Jane Street Group LLC now owns 437,354 shares of the company’s stock valued at $10,483,000 after acquiring an additional 246,326 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 196,002 shares of the company’s stock worth $4,675,000 after acquiring an additional 52,003 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after acquiring an additional 584 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 108.2% in the 2nd quarter. NewEdge Advisors LLC now owns 18,920 shares of the company’s stock worth $451,000 after acquiring an additional 9,833 shares during the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Company Profile

The IQ MacKay Municipal Intermediate ETF (MMIT) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed to provide enhanced total-return potential by investing mainly in investment-grade, AMT-free US municipal bonds with duration between 3-10 years. MMIT was launched on Oct 18, 2017 and is managed by IndexIQ.