NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 12-Month Low – Here’s What Happened

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s share price reached a new 52-week low on Tuesday. The stock traded as low as $22.85 and last traded at $22.92, with a volume of 2173534 shares trading hands. The stock had previously closed at $23.02.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Up 0.3%

The business has a fifty day moving average of $23.73 and a 200-day moving average of $24.09.

Institutional Investors Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Several hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 37.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,083 shares of the company’s stock worth $367,000 after buying an additional 4,075 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 10.2% in the second quarter. Envestnet Asset Management Inc. now owns 983,337 shares of the company’s stock valued at $23,944,000 after acquiring an additional 91,392 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 24.2% in the second quarter. NewEdge Advisors LLC now owns 11,699 shares of the company’s stock valued at $285,000 after acquiring an additional 2,281 shares in the last quarter. Waverly Advisors LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter worth about $13,967,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter worth about $8,719,000.

NYLIM 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.