NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 52-Week Low – Should You Sell?

Shares of NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.32 and last traded at $23.34, with a volume of 25272 shares. The stock had previously closed at $23.34.

NYLIM MacKay Shields Municipal Intermediate ETF Trading Down 0.3%

The company has a 50-day simple moving average of $23.87 and a two-hundred day simple moving average of $24.15.

Hedge Funds Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stronghold Wealth Management L.L.C. raised its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 3.4% in the 1st quarter. Stronghold Wealth Management L.L.C. now owns 25,201 shares of the company’s stock worth $607,000 after purchasing an additional 832 shares during the period. 46 Peaks LLC grew its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 0.6% during the first quarter. 46 Peaks LLC now owns 183,500 shares of the company’s stock valued at $4,423,000 after purchasing an additional 1,018 shares during the period. Axxcess Wealth Management LLC grew its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 2.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 43,206 shares of the company’s stock valued at $1,051,000 after purchasing an additional 1,103 shares during the period. NewEdge Advisors LLC increased its position in NYLIM MacKay Shields Municipal Intermediate ETF by 24.2% in the second quarter. NewEdge Advisors LLC now owns 11,699 shares of the company’s stock worth $285,000 after buying an additional 2,281 shares in the last quarter. Finally, RFG Bristol Wealth Advisors LLC increased its position in NYLIM MacKay Shields Municipal Intermediate ETF by 12.2% in the first quarter. RFG Bristol Wealth Advisors LLC now owns 29,590 shares of the company’s stock worth $713,000 after buying an additional 3,208 shares in the last quarter.

NYLIM MacKay Shields Municipal Intermediate ETF Company 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.