NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Short Interest Update

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 71,057 shares, a growth of 84.5% from the July 30th total of 38,513 shares. Based on an average daily volume of 19,418 shares, the days-to-cover ratio is presently 3.7 days. Currently, 1.0% of the company’s stock are sold short.

NYLI Merger Arbitrage ETF Trading Up 0.1%

NYLI Merger Arbitrage ETF stock opened at $36.62 on Tuesday. NYLI Merger Arbitrage ETF has a 52 week low of $34.91 and a 52 week high of $37.19. The stock has a market cap of $252.68 million, a P/E ratio of 25.78 and a beta of 0.06. The stock has a 50 day moving average of $36.60 and a 200-day moving average of $36.43.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

Several hedge funds and other institutional investors have recently modified their holdings of MNA. Ameriprise Financial Inc. lifted its position in shares of NYLI Merger Arbitrage ETF by 10.4% during the third quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after purchasing an additional 17,920 shares during the last quarter. Collaborative Fund Advisors LLC acquired a new stake in NYLI Merger Arbitrage ETF during the first quarter valued at approximately $2,216,000. Finally, Parallel Advisors LLC grew its position in shares of NYLI Merger Arbitrage ETF by 17.7% in the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after acquiring an additional 1,010 shares in the last quarter.

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.