NYLIM MacKay Shields Municipal Intermediate ETF $MMIT Stock Sold by Cornerstone Advisors Asset Management LLC

Cornerstone Advisors Asset Management LLC cut its position in NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 473,996 shares of the company’s stock after selling 46,101 shares during the period. NYLIM MacKay Shields Municipal Intermediate ETF accounts for approximately 1.2% of Cornerstone Advisors Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. Cornerstone Advisors Asset Management LLC owned about 0.68% of NYLIM MacKay Shields Municipal Intermediate ETF worth $10,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Collaborative Wealth Managment Inc. bought a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the 3rd quarter valued at about $361,000. Fifth Third Bancorp boosted its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 4.1% in the third quarter. Fifth Third Bancorp now owns 48,716 shares of the company’s stock worth $1,115,000 after acquiring an additional 1,911 shares in the last quarter. Acorn Creek Capital LLC bought a new position in NYLIM MacKay Shields Municipal Intermediate ETF in the third quarter worth approximately $548,000. Cornerstone Wealth Management LLC bought a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the 3rd quarter worth $236,000. Finally, BCS Wealth Management lifted its stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 2.7% in the third quarter. BCS Wealth Management now owns 26,430 shares of the company’s stock valued at $605,000 after buying an additional 693 shares in the last quarter.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Performance

Shares of NYSEARCA:MMIT opened at $23.67 on Friday. The stock’s fifty day simple moving average is $23.39 and its two-hundred day simple moving average is $24.06. NYLIM MacKay Shields Municipal Intermediate ETF has a 1-year low of $22.77 and a 1-year high of $24.77.

NYLIM MacKay Shields Municipal Intermediate ETF 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.