NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Short Interest Up 265.0% in April

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 83,002 shares, a growth of 265.0% from the April 15th total of 22,739 shares. Based on an average trading volume of 30,137 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.2% of the company’s stock are sold short.

NYLI Merger Arbitrage ETF Price Performance

Shares of MNA opened at $36.39 on Thursday. NYLI Merger Arbitrage ETF has a 1-year low of $34.50 and a 1-year high of $37.19. The firm has a fifty day moving average price of $36.30 and a 200 day moving average price of $36.09. The stock has a market cap of $251.09 million, a PE ratio of 25.78 and a beta of 0.07.

Institutional Trading of NYLI Merger Arbitrage ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of NYLI Merger Arbitrage ETF by 17.7% during the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after buying an additional 1,010 shares in the last quarter. Collaborative Fund Advisors LLC purchased a new stake in NYLI Merger Arbitrage ETF during the first quarter worth $2,216,000. Kingswood Wealth Advisors LLC increased its holdings in NYLI Merger Arbitrage ETF by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock valued at $4,008,000 after acquiring an additional 3,378 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in NYLI Merger Arbitrage ETF by 85.0% during the 4th quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock valued at $1,311,000 after acquiring an additional 16,831 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in NYLI Merger Arbitrage ETF by 293.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after acquiring an additional 1,220 shares in the last quarter.

NYLI Merger Arbitrage ETF Company Profile

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.