Cornerstone Advisors Asset Management LLC Sells 46,101 Shares of NYLIM MacKay Shields Municipal Intermediate ETF $MMIT

Cornerstone Advisors Asset Management LLC lowered its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 473,996 shares of the company’s stock after selling 46,101 shares during the quarter. NYLIM MacKay Shields Municipal Intermediate ETF accounts for 1.2% of Cornerstone Advisors Asset Management LLC’s holdings, making the stock its 19th biggest position. Cornerstone Advisors Asset Management LLC’s holdings in NYLIM MacKay Shields Municipal Intermediate ETF were worth $10,845,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MMIT. Meeder Advisory Services Inc. boosted its stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 30.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock worth $70,983,000 after buying an additional 683,938 shares during the last quarter. Waverly Advisors LLC purchased a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the second quarter valued at approximately $13,967,000. Bank of America Corp DE increased its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 8.2% during the first quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock valued at $149,813,000 after acquiring an additional 471,765 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 100.0% during the third quarter. Avior Wealth Management LLC now owns 744,372 shares of the company’s stock valued at $17,031,000 after acquiring an additional 372,250 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in NYLIM MacKay Shields Municipal Intermediate ETF during the second quarter worth $8,719,000.

NYLIM MacKay Shields Municipal Intermediate ETF Trading Down 0.4%

Shares of NYLIM MacKay Shields Municipal Intermediate ETF stock opened at $23.67 on Friday. The business’s fifty day simple moving average is $23.39 and its 200 day simple moving average is $24.06. NYLIM MacKay Shields Municipal Intermediate ETF has a 12 month low of $22.77 and a 12 month high of $24.77.

About NYLIM 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.