Short Interest in NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Grows By 733.0%

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 90,421 shares, a growth of 733.0% from the February 12th total of 10,855 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 26,736 shares, the short-interest ratio is presently 3.4 days. Based on an average trading volume of 26,736 shares, the short-interest ratio is presently 3.4 days. Currently, 1.3% of the company’s stock are sold short.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

Several large investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its position in NYLI Merger Arbitrage ETF by 3,467.5% in the 4th quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock worth $204,000 after buying an additional 5,548 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock worth $4,008,000 after acquiring an additional 3,378 shares during the period. Farther Finance Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 85.0% in the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after acquiring an additional 16,831 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of NYLI Merger Arbitrage ETF by 293.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of NYLI Merger Arbitrage ETF by 10.4% during the third quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock valued at $6,807,000 after purchasing an additional 17,920 shares during the last quarter.

NYLI Merger Arbitrage ETF Trading Down 0.2%

MNA stock traded down $0.09 during midday trading on Thursday, hitting $36.03. The company’s stock had a trading volume of 8,495 shares, compared to its average volume of 38,044. The firm’s 50-day moving average is $36.16 and its 200-day moving average is $35.93. NYLI Merger Arbitrage ETF has a 12 month low of $33.40 and a 12 month high of $36.73. The company has a market cap of $252.21 million, a PE ratio of 25.78 and a beta of 0.06.

About NYLI Merger Arbitrage ETF

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.