NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Shares Up 0.2% – Should You Buy?

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) shares shot up 0.2% during trading on Thursday . The stock traded as high as $36.76 and last traded at $36.50. 23,773 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 30,773 shares. The stock had previously closed at $36.41.

NYLI Merger Arbitrage ETF Price Performance

The business has a 50-day moving average of $36.41 and a two-hundred day moving average of $36.23. The company has a market cap of $251.85 million, a P/E ratio of 25.78 and a beta of 0.06.

Institutional Trading of NYLI Merger Arbitrage ETF

Several hedge funds have recently modified their holdings of MNA. Ameriprise Financial Inc. grew its position in shares of NYLI Merger Arbitrage ETF by 70.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 171,803 shares of the company’s stock worth $6,059,000 after buying an additional 71,109 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in NYLI Merger Arbitrage ETF by 293.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after acquiring an additional 1,220 shares during the last quarter. Farther Finance Advisors LLC lifted its position in NYLI Merger Arbitrage ETF by 85.0% during the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock valued at $1,311,000 after acquiring an additional 16,831 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in NYLI Merger Arbitrage ETF by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock valued at $4,008,000 after acquiring an additional 3,378 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in NYLI Merger Arbitrage ETF by 3,467.5% in the fourth quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock valued at $204,000 after acquiring an additional 5,548 shares in the last quarter.

About NYLI Merger Arbitrage ETF

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.