NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Unusually-High Trading Volume – Still a Buy?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw strong trading volume on Wednesday . 370,153 shares traded hands during trading, an increase of 181% from the previous session’s volume of 131,885 shares.The stock last traded at $23.92 and had previously closed at $24.00.

NYLI MacKay Shields Municipal Intermediate ETF Trading Down 0.4 %

The firm has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $24.25.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Institutional investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. grew its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 9.4% in the third quarter. Financial Counselors Inc. now owns 272,889 shares of the company’s stock worth $6,713,000 after purchasing an additional 23,474 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF in the 3rd quarter worth $480,000. Jane Street Group LLC acquired a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF in the 3rd quarter worth $547,000. MML Investors Services LLC grew its stake in NYLI MacKay Shields Municipal Intermediate ETF by 2.3% during the 3rd quarter. MML Investors Services LLC now owns 108,064 shares of the company’s stock worth $2,658,000 after buying an additional 2,429 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in NYLI MacKay Shields Municipal Intermediate ETF by 29.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 162,144 shares of the company’s stock valued at $3,945,000 after buying an additional 36,985 shares in the last quarter.

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.