NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Hits New 12-Month High – Still a Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) hit a new 52-week high on Monday . The company traded as high as $36.87 and last traded at $36.85, with a volume of 2514 shares changing hands. The stock had previously closed at $36.45.

NYLI Hedge Multi-Strategy Tracker ETF Trading Up 0.2%

The company’s 50-day moving average price is $35.95 and its two-hundred day moving average price is $34.86. The company has a market cap of $886.88 million, a P/E ratio of 18.21 and a beta of 0.34.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QAI. Phillip James Consulting Co. bought a new position in shares of NYLI Hedge Multi-Strategy Tracker ETF in the first quarter valued at $27,000. International Assets Investment Management LLC bought a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the 4th quarter worth $37,000. EFG International AG acquired a new position in shares of NYLI Hedge Multi-Strategy Tracker ETF in the 4th quarter worth $40,000. Advisors Preferred LLC grew its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 117.4% in the 3rd quarter. Advisors Preferred LLC now owns 1,263 shares of the company’s stock worth $43,000 after acquiring an additional 682 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the fourth quarter worth $99,000.

NYLI Hedge Multi-Strategy Tracker ETF Company Profile

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.