NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Volume Increase – Here’s Why

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw strong trading volume on Friday . 1,358,338 shares traded hands during mid-day trading, an increase of 310% from the previous session’s volume of 331,403 shares.The stock last traded at $24.08 and had previously closed at $24.10.

NYLI MacKay Shields Municipal Intermediate ETF Trading Down 0.2%

The firm’s fifty day simple moving average is $24.22 and its 200 day simple moving average is $24.32.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several institutional investors have recently modified their holdings of MMIT. CWM LLC acquired a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the fourth quarter worth $26,000. CIBC Private Wealth Group LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter valued at $27,000. BOKF NA acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the third quarter valued at $53,000. Root Financial Partners LLC purchased a new stake in NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter worth about $83,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after buying an additional 584 shares during the last quarter.

About NYLI 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.