Orion Porfolio Solutions LLC Increases Stock Position in NYLI MacKay Shields Municipal Intermediate ETF $MMIT

Orion Porfolio Solutions LLC grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) by 5.3% in the third quarter, HoldingsChannel reports. The firm owned 481,330 shares of the company’s stock after buying an additional 24,341 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in NYLI MacKay Shields Municipal Intermediate ETF were worth $11,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMIT. Rossby Financial LCC purchased a new position in NYLI MacKay Shields Municipal Intermediate ETF during the 3rd quarter valued at approximately $95,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after acquiring an additional 584 shares in the last quarter. Assetmark Inc. boosted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 81.7% during the 2nd quarter. Assetmark Inc. now owns 4,185 shares of the company’s stock valued at $100,000 after acquiring an additional 1,882 shares during the last quarter. United Community Bank purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the third quarter valued at $116,000. Finally, US Bancorp DE purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the third quarter valued at $123,000.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

Shares of MMIT opened at $24.53 on Friday. NYLI MacKay Shields Municipal Intermediate ETF has a fifty-two week low of $22.99 and a fifty-two week high of $24.77. The company’s fifty day moving average is $24.53 and its 200 day moving average is $24.35.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 3rd. Investors of record on Friday, February 27th were issued a $0.0668 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%.

NYLI MacKay Shields Municipal Intermediate ETF 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.