NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Unusually-High Trading Volume – Here’s Why

Shares of NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) saw unusually-high trading volume on Tuesday. 249,640 shares changed hands during trading, an increase of 70% from the average daily volume of 147,024 shares. The stock last traded at $23.05 and had previously closed at $23.11.

NYLIM MacKay Municipal Insured ETF Trading Down 0.2%

The firm has a fifty day simple moving average of $22.86 and a 200-day simple moving average of $23.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Asset Management LLC raised its holdings in shares of NYLIM MacKay Municipal Insured ETF by 5.2% during the first quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock worth $16,605,000 after acquiring an additional 34,447 shares during the period. ACT Advisors LLC. grew its holdings in shares of NYLIM MacKay Municipal Insured ETF by 7.0% during the 3rd quarter. ACT Advisors LLC. now owns 594,619 shares of the company’s stock worth $13,236,000 after purchasing an additional 39,061 shares in the last quarter. Purus Wealth Management LLC increased its position in NYLIM MacKay Municipal Insured ETF by 6.4% during the 3rd quarter. Purus Wealth Management LLC now owns 77,485 shares of the company’s stock worth $1,725,000 after purchasing an additional 4,690 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in NYLIM MacKay Municipal Insured ETF in the third quarter worth approximately $1,628,000. Finally, Lebenthal Global Advisors LLC bought a new stake in shares of NYLIM MacKay Municipal Insured ETF in the 3rd quarter worth $520,000.

About NYLIM MacKay Municipal Insured ETF

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.