Short Interest in NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Drops By 71.0%

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 17,003 shares, a decrease of 71.0% from the June 30th total of 58,669 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 230,521 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMIT. Mariner LLC lifted its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 1,689.0% during the third quarter. Mariner LLC now owns 1,181,175 shares of the company’s stock worth $28,703,000 after buying an additional 1,115,151 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 30.3% during the first quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock worth $70,983,000 after purchasing an additional 683,938 shares during the period. Midwest Trust Co boosted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 96.5% in the 4th quarter. Midwest Trust Co now owns 1,277,827 shares of the company’s stock valued at $31,090,000 after acquiring an additional 627,505 shares during the last quarter. Bank of America Corp DE raised its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock valued at $149,813,000 after buying an additional 471,765 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP raised its position in NYLI MacKay Shields Municipal Intermediate ETF by 22.0% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,242,166 shares of the company’s stock valued at $54,485,000 after acquiring an additional 403,900 shares in the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Trading Up 0.1%

MMIT stock traded up $0.03 during midday trading on Tuesday, hitting $24.04. The company’s stock had a trading volume of 152,987 shares, compared to its average volume of 339,870. The company has a 50 day moving average of $24.27 and a two-hundred day moving average of $24.36. NYLI MacKay Shields Municipal Intermediate ETF has a 12 month low of $23.72 and a 12 month high of $24.77.

About NYLI MacKay Shields Municipal Intermediate ETF

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.