Cornerstone Advisors Asset Management LLC Trims Stake in NYLI MacKay Shields Municipal Intermediate ETF $MMIT

Cornerstone Advisors Asset Management LLC cut its stake in NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 520,097 shares of the company’s stock after selling 37,600 shares during the quarter. NYLI MacKay Shields Municipal Intermediate ETF makes up approximately 1.7% of Cornerstone Advisors Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Cornerstone Advisors Asset Management LLC owned approximately 0.85% of NYLI MacKay Shields Municipal Intermediate ETF worth $12,664,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock valued at $97,000 after purchasing an additional 584 shares in the last quarter. Stronghold Wealth Management L.L.C. lifted its stake in shares of NYLI 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 valued at $607,000 after purchasing an additional 832 shares during the period. 46 Peaks LLC boosted its holdings in NYLI 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 worth $4,423,000 after buying an additional 1,018 shares in the last quarter. CWM LLC purchased a new stake in NYLI MacKay Shields Municipal Intermediate ETF during the fourth quarter worth $26,000. Finally, Axxcess Wealth Management LLC grew its position in NYLI 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 buying an additional 1,103 shares during the period.

NYLI MacKay Shields Municipal Intermediate ETF Stock Down 0.1%

MMIT opened at $23.66 on Friday. NYLI MacKay Shields Municipal Intermediate ETF has a fifty-two week low of $23.65 and a fifty-two week high of $24.77. The company has a fifty day moving average of $24.08 and a two-hundred day moving average of $24.25.

NYLI 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.