NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Drop in Short Interest

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 29,331 shares, a decline of 35.4% from the May 14th total of 45,409 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 1,058,315 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Western Wealth Management LLC bought a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the first quarter valued at approximately $180,000. Bank of America Corp DE increased its holdings in shares of NYLI 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 in the last quarter. Royal Bank of Canada grew its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 23.9% during the first quarter. Royal Bank of Canada now owns 712,696 shares of the company’s stock worth $17,180,000 after buying an additional 137,591 shares in the last quarter. Gateway Wealth Partners LLC bought a new stake in NYLI MacKay Shields Municipal Intermediate ETF during the first quarter worth $227,000. Finally, Cetera Investment Advisers grew its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 5.5% during the first quarter. Cetera Investment Advisers now owns 2,053,468 shares of the company’s stock worth $49,499,000 after buying an additional 107,132 shares in the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Trading Up 0.1%

Shares of NYSEARCA MMIT traded up $0.02 during midday trading on Tuesday, hitting $24.35. 117,144 shares of the stock traded hands, compared to its average volume of 362,635. NYLI MacKay Shields Municipal Intermediate ETF has a one year low of $23.68 and a one year high of $24.77. The business has a 50 day moving average price of $24.28 and a two-hundred day moving average price of $24.38.

About NYLI 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.