NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Stock Short Interest Drops 87.9%

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 8,953 shares, a decline of 87.9% from the September 15th total of 73,939 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 23,189 shares, the short-interest ratio is currently 0.4 days.

NYLIM Merger Arbitrage ETF Price Performance

NYSEARCA MNA traded up $0.02 during mid-day trading on Friday, hitting $36.78. The stock had a trading volume of 32,252 shares, compared to its average volume of 34,617. NYLIM Merger Arbitrage ETF has a twelve month low of $35.56 and a twelve month high of $37.19. The stock has a market capitalization of $257.46 million, a price-to-earnings ratio of 25.78 and a beta of 0.07. The firm’s 50 day moving average is $36.76 and its 200 day moving average is $36.54.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNA. Parallel Advisors LLC raised its position in shares of NYLIM Merger Arbitrage ETF by 17.7% during the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock valued at $244,000 after buying an additional 1,010 shares during the period. Collaborative Fund Advisors LLC acquired a new stake in NYLIM Merger Arbitrage ETF in the 1st quarter valued at approximately $2,216,000. Finally, One Capital Management LLC purchased a new stake in NYLIM Merger Arbitrage ETF in the second quarter valued at approximately $6,567,000.

About NYLIM Merger Arbitrage ETF

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.