NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Hits New 1-Year High – Still a Buy?

Shares of NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $36.32 and last traded at $36.31, with a volume of 1797 shares changing hands. The stock had previously closed at $36.05.

NYLI Hedge Multi-Strategy Tracker ETF Stock Performance

The company has a market cap of $875.79 million, a PE ratio of 18.21 and a beta of 0.34. The company’s 50-day simple moving average is $35.11 and its 200 day simple moving average is $34.48.

Institutional Investors Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

Institutional investors have recently modified their holdings of the company. Phillip James Consulting Co. purchased a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the 1st quarter worth $27,000. International Assets Investment Management LLC purchased a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the 4th quarter worth $37,000. EFG International AG purchased a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the 4th quarter worth $40,000. Advisors Preferred LLC lifted its position in shares of NYLI Hedge Multi-Strategy Tracker ETF by 117.4% during the 3rd quarter. Advisors Preferred LLC now owns 1,263 shares of the company’s stock worth $43,000 after purchasing an additional 682 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the 4th quarter worth $99,000.

NYLI Hedge Multi-Strategy Tracker ETF Company Profile

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.