NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Stock Price Up 0.6% – Still a Buy?

Shares of NYLI Merger Arbitrage ETF (NYSEARCA:MNA) traded up 0.6% during mid-day trading on Friday . The stock traded as high as $34.66 and last traded at $34.63. 75,728 shares traded hands during mid-day trading, an increase of 88% from the average session volume of 40,206 shares. The stock had previously closed at $34.44.

NYLI Merger Arbitrage ETF Price Performance

The stock’s fifty day moving average is $33.92 and its 200-day moving average is $33.31. The stock has a market capitalization of $225.10 million, a P/E ratio of 21.35 and a beta of 0.14.

Hedge Funds Weigh In On NYLI Merger Arbitrage ETF

An institutional investor recently raised its position in NYLI Merger Arbitrage ETF stock. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of NYLI Merger Arbitrage ETF (NYSEARCA:MNA) by 20.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,176 shares of the company’s stock after buying an additional 881 shares during the period. Thurston Springer Miller Herd & Titak Inc. owned 0.06% of NYLI Merger Arbitrage ETF worth $171,000 at the end of the most recent reporting period.

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.