NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Short Interest Update

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 71,057 shares, an increase of 84.5% from the July 30th total of 38,513 shares. Based on an average trading volume of 19,418 shares, the short-interest ratio is currently 3.7 days. Approximately 1.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of NYLI Merger Arbitrage ETF by 3,467.5% during the 4th quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock worth $204,000 after purchasing an additional 5,548 shares in the last quarter. Collaborative Fund Advisors LLC bought a new position in shares of NYLI Merger Arbitrage ETF in the first quarter valued at approximately $2,216,000. Finally, Ameriprise Financial Inc. boosted its holdings 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 acquiring an additional 71,109 shares in the last quarter.

NYLI Merger Arbitrage ETF Price Performance

Shares of NYLI Merger Arbitrage ETF stock traded up $0.03 during midday trading on Monday, hitting $36.62. 19,970 shares of the company were exchanged, compared to its average volume of 31,006. The firm has a 50 day simple moving average of $36.60 and a 200-day simple moving average of $36.43. NYLI Merger Arbitrage ETF has a 52 week low of $34.91 and a 52 week high of $37.19. The firm has a market cap of $252.68 million, a P/E ratio of 25.78 and a beta of 0.06.

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.