NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Volume Increase – Should You Buy?

Shares of NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw an uptick in trading volume on Monday. Approximately 535,706 shares changed hands during trading, an increase of 43% from the previous session’s volume of 375,876 shares. The stock last traded at $22.92 and had previously closed at $23.02.

NYLIM MacKay Shields Municipal Intermediate ETF Price Performance

The business’s 50-day moving average price is $23.80 and its 200-day moving average price is $24.12.

Hedge Funds Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at $83,000. Pinnacle Bancorp Inc. acquired a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the 1st quarter valued at about $162,000. Western Wealth Management LLC acquired a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the 1st quarter valued at about $180,000. Gateway Wealth Partners LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the first quarter valued at about $227,000. Finally, Fluent Financial LLC acquired a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter worth about $251,000.

About NYLIM MacKay Shields Municipal Intermediate ETF

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.