New York Life Investment Management LLC Buys 9,463,171 Shares of NYLIM U.S. Large Cap R&D Leaders ETF $LRND

New York Life Investment Management LLC purchased a new position in shares of NYLIM U.S. Large Cap R&D Leaders ETF (NASDAQ:LRND) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,463,171 shares of the company’s stock, valued at approximately $452,368,000. NYLIM U.S. Large Cap R&D Leaders ETF makes up about 3.1% of New York Life Investment Management LLC’s holdings, making the stock its 4th largest holding. New York Life Investment Management LLC owned 100.35% of NYLIM U.S. Large Cap R&D Leaders ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

NYLIM U.S. Large Cap R&D Leaders ETF Stock Performance

LRND opened at $43.81 on Wednesday. The company has a fifty day moving average of $46.72 and a two-hundred day moving average of $43.55. The stock has a market capitalization of $411.81 million, a price-to-earnings ratio of 27.08 and a beta of 1.11. NYLIM U.S. Large Cap R&D Leaders ETF has a fifty-two week low of $35.87 and a fifty-two week high of $49.31.

NYLIM U.S. Large Cap R&D Leaders ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Wednesday, September 30th were given a dividend of $0.0439 per share. This is a drop from NYLIM U.S. Large Cap R&D Leaders ETF’s previous quarterly dividend of $0.0456. The ex-dividend date was Wednesday, September 30th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.4%.

NYLIM U.S. Large Cap R&D Leaders ETF Profile

The IQ U.S. Large Cap R&D Leaders ETF (LRND) is an exchange-traded fund that is based on the IQ U.S. Large Cap R&D Leaders index. The fund tracks an index of 100 large-cap US companies selected and weighted based on the most recently reported one year research and development (R&D) spending. LRND was launched on Feb 8, 2022 and is managed by IndexIQ.