NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Short Interest Update

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 59,469 shares, an increase of 188.1% from the April 15th total of 20,641 shares. Based on an average daily trading volume, of 240,532 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

NYLI MacKay Shields Municipal Intermediate ETF Stock Down 0.4%

MMIT stock traded down $0.09 during midday trading on Friday, reaching $24.15. The company had a trading volume of 252,825 shares, compared to its average volume of 317,208. NYLI MacKay Shields Municipal Intermediate ETF has a 1 year low of $23.59 and a 1 year high of $24.77. The company has a 50 day moving average of $24.30 and a two-hundred day moving average of $24.40.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMIT. Royal Bank of Canada lifted its position in NYLI MacKay Shields Municipal Intermediate ETF by 12.5% in the 1st quarter. Royal Bank of Canada now owns 97,836 shares of the company’s stock worth $2,345,000 after buying an additional 10,902 shares in the last quarter. Jane Street Group LLC lifted 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 buying an additional 246,326 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NYLI MacKay Shields Municipal Intermediate ETF by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 196,002 shares of the company’s stock worth $4,675,000 after buying an additional 52,003 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after buying an additional 584 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in NYLI MacKay Shields Municipal Intermediate ETF by 108.2% in the 2nd quarter. NewEdge Advisors LLC now owns 18,920 shares of the company’s stock worth $451,000 after buying an additional 9,833 shares in the last quarter.

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.