Pinnacle Associates Ltd. bought a new position in shares of IQ Merger Arbitrage ETF (NYSEARCA:MNA) during the fourth quarter, Holdings Channel reports. The institutional investor bought 145,775 shares of the company’s stock, valued at approximately $4,623,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Q3 Asset Management acquired a new position in IQ Merger Arbitrage ETF during the third quarter worth about $1,904,000. American Financial Network Advisory Services LLC raised its stake in IQ Merger Arbitrage ETF by 24,703.8% during the third quarter. American Financial Network Advisory Services LLC now owns 26,044 shares of the company’s stock worth $827,000 after acquiring an additional 25,939 shares in the last quarter. IFP Advisors Inc raised its stake in IQ Merger Arbitrage ETF by 39.5% during the third quarter. IFP Advisors Inc now owns 11,060 shares of the company’s stock worth $351,000 after acquiring an additional 3,131 shares in the last quarter. Advisors Preferred LLC acquired a new position in IQ Merger Arbitrage ETF during the third quarter worth about $266,000. Finally, Greenleaf Trust raised its stake in IQ Merger Arbitrage ETF by 422.6% during the third quarter. Greenleaf Trust now owns 1,002,199 shares of the company’s stock worth $31,840,000 after acquiring an additional 810,438 shares in the last quarter.

IQ Merger Arbitrage ETF stock opened at $32.10 on Tuesday. IQ Merger Arbitrage ETF has a 1 year low of $30.25 and a 1 year high of $32.38.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.dailypolitical.com/2019/02/12/pinnacle-associates-ltd-invests-4-62-million-in-iq-merger-arbitrage-etf-mna-stock.html.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding MNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IQ Merger Arbitrage ETF (NYSEARCA:MNA).

Institutional Ownership by Quarter for IQ Merger Arbitrage ETF (NYSEARCA:MNA)

Receive News & Ratings for IQ Merger Arbitrage ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IQ Merger Arbitrage ETF and related companies with MarketBeat.com's FREE daily email newsletter.