NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sets New 12-Month High – What’s Next?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) shares hit a new 52-week high on Wednesday . The company traded as high as $24.51 and last traded at $24.4950, with a volume of 234500 shares changing hands. The stock had previously closed at $24.47.

NYLI MacKay Shields Municipal Intermediate ETF Stock Up 0.1%

The business’s 50-day moving average price is $24.36 and its 200-day moving average price is $24.15.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several institutional investors and hedge funds have recently modified their holdings of MMIT. Royal Bank of Canada raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 12.5% during the first quarter. Royal Bank of Canada now owns 97,836 shares of the company’s stock worth $2,345,000 after acquiring an additional 10,902 shares in the last quarter. Jane Street Group LLC increased its position in NYLI MacKay Shields Municipal Intermediate ETF by 128.9% in the 1st quarter. Jane Street Group LLC now owns 437,354 shares of the company’s stock worth $10,483,000 after purchasing an additional 246,326 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in NYLI MacKay Shields Municipal Intermediate ETF by 38.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 417,115 shares of the company’s stock worth $9,948,000 after purchasing an additional 116,867 shares during the last quarter. Burt Wealth Advisors raised its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 137.3% during the 2nd quarter. Burt Wealth Advisors now owns 70,430 shares of the company’s stock worth $1,680,000 after purchasing an additional 40,750 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 59.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,656 shares of the company’s stock valued at $563,000 after buying an additional 8,813 shares during 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. MMIT was launched on Oct 18, 2017 and is managed by IndexIQ.