NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Drop in Short Interest

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 29,331 shares, a decrease of 35.4% from the May 14th total of 45,409 shares. Based on an average daily trading volume, of 1,058,315 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

NYLI MacKay Shields Municipal Intermediate ETF Trading Up 0.1%

NYLI MacKay Shields Municipal Intermediate ETF stock traded up $0.02 during trading on Tuesday, hitting $24.35. 117,144 shares of the company were exchanged, compared to its average volume of 362,635. The business’s 50 day moving average is $24.28 and its 200 day moving average is $24.38. NYLI MacKay Shields Municipal Intermediate ETF has a 52 week low of $23.68 and a 52 week high of $24.77.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC bought a new stake in NYLI MacKay Shields Municipal Intermediate ETF during the first quarter worth $180,000. Bank of America Corp DE grew its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 8.2% during the first quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock worth $149,813,000 after buying an additional 471,765 shares in the last quarter. Royal Bank of Canada boosted its position in NYLI MacKay Shields Municipal Intermediate ETF by 23.9% in the first quarter. Royal Bank of Canada now owns 712,696 shares of the company’s stock worth $17,180,000 after purchasing an additional 137,591 shares during the last quarter. Gateway Wealth Partners LLC purchased a new position in NYLI MacKay Shields Municipal Intermediate ETF in the first quarter worth $227,000. Finally, Cetera Investment Advisers boosted its position in NYLI MacKay Shields Municipal Intermediate ETF by 5.5% in the first quarter. Cetera Investment Advisers now owns 2,053,468 shares of the company’s stock worth $49,499,000 after purchasing an additional 107,132 shares during the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Company 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.