NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 52-Week High – Time to Buy?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.51 and last traded at $24.4950, with a volume of 234500 shares traded. The stock had previously closed at $24.47.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

The business has a 50-day moving average of $24.36 and a two-hundred day moving average of $24.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Truist Financial Corp boosted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.0% during the 2nd quarter. Truist Financial Corp now owns 288,933 shares of the company’s stock valued at $6,891,000 after acquiring an additional 2,802 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in NYLI MacKay Shields Municipal Intermediate ETF in the second quarter worth about $671,000. Smallwood Wealth Investment Management LLC lifted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 21.0% during the third quarter. Smallwood Wealth Investment Management LLC now owns 132,825 shares of the company’s stock worth $3,228,000 after purchasing an additional 23,021 shares during the period. Cetera Investment Advisers boosted its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 2.3% during the second quarter. Cetera Investment Advisers now owns 1,702,735 shares of the company’s stock valued at $40,610,000 after purchasing an additional 38,395 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 59.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,656 shares of the company’s stock valued at $563,000 after purchasing an additional 8,813 shares during the period.

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.