NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Volume Increase – Time to Buy?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw unusually-strong trading volume on Tuesday . Approximately 763,162 shares traded hands during trading, an increase of 139% from the previous session’s volume of 319,946 shares.The stock last traded at $24.5050 and had previously closed at $24.49.

NYLI MacKay Shields Municipal Intermediate ETF Stock Up 0.1%

The company has a fifty day moving average of $24.40 and a 200-day moving average of $24.22.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th will be paid a dividend of $0.0733 per share. The ex-dividend date is Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 3.6%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Truist Financial Corp increased its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.0% during the second quarter. Truist Financial Corp now owns 288,933 shares of the company’s stock worth $6,891,000 after buying an additional 2,802 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF in the 2nd quarter valued at approximately $671,000. Smallwood Wealth Investment Management LLC raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 21.0% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 132,825 shares of the company’s stock valued at $3,228,000 after purchasing an additional 23,021 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 8.0% in the 3rd quarter. Meeder Advisory Services Inc. now owns 2,063,569 shares of the company’s stock valued at $50,145,000 after purchasing an additional 153,508 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,702,735 shares of the company’s stock worth $40,610,000 after purchasing an additional 38,395 shares during the last quarter.

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.