NYLI Merger Arbitrage ETF (NYSEARCA:MNA – Get Free Report) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 71,057 shares, an increase of 84.5% from the July 30th total of 38,513 shares. Based on an average trading volume of 19,418 shares, the days-to-cover ratio is presently 3.7 days. Approximately 1.0% of the company’s stock are short sold.
NYLI Merger Arbitrage ETF Stock Down 0.9%
Shares of NYLI Merger Arbitrage ETF stock traded down $0.33 during midday trading on Friday, hitting $36.59. The company had a trading volume of 26,848 shares, compared to its average volume of 31,074. The company has a fifty day simple moving average of $36.59 and a 200 day simple moving average of $36.43. The stock has a market cap of $252.47 million, a price-to-earnings ratio of 25.78 and a beta of 0.06. NYLI Merger Arbitrage ETF has a 12-month low of $34.91 and a 12-month high of $37.19.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in MNA. Parallel Advisors LLC lifted its stake in NYLI Merger Arbitrage ETF by 17.7% in the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after purchasing an additional 1,010 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in NYLI Merger Arbitrage ETF by 10.4% during the third quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after buying an additional 17,920 shares during the last quarter. Finally, Collaborative Fund Advisors LLC purchased a new stake in NYLI Merger Arbitrage ETF in the 1st quarter valued at $2,216,000.
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.
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