NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Strong Trading Volume – Should You Buy?

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw unusually-high trading volume on Monday. 535,706 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 375,876 shares. The stock last traded at $22.92 and had previously closed at $23.02.

NYLIM MacKay Shields Municipal Intermediate ETF Price Performance

The business’s 50 day moving average is $23.80 and its 200 day moving average is $24.12.

Institutional Investors Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the fourth quarter valued at $83,000. Pinnacle Bancorp Inc. acquired a new stake in NYLIM MacKay Shields Municipal Intermediate ETF during the 1st quarter worth about $162,000. Western Wealth Management LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF during the 1st quarter valued at about $180,000. Gateway Wealth Partners LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF during the 1st quarter valued at about $227,000. Finally, Fluent Financial LLC acquired a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter valued at about $251,000.

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.