NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Shares Shorted: Short Interest Down 87.9% in September

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 8,953 shares, a decline of 87.9% from the September 15th total of 73,939 shares. Based on an average daily trading volume, of 23,189 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Trading of NYLIM Merger Arbitrage ETF

Large investors have recently made changes to their positions in the company. One Capital Management LLC purchased a new stake in shares of NYLIM Merger Arbitrage ETF in the 2nd quarter valued at approximately $6,567,000. Collaborative Fund Advisors LLC purchased a new position in shares of NYLIM Merger Arbitrage ETF during the first quarter worth about $2,216,000. Finally, Parallel Advisors LLC increased its position in NYLIM Merger Arbitrage ETF by 17.7% during the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after buying an additional 1,010 shares during the period.

NYLIM Merger Arbitrage ETF Stock Up 0.1%

NYSEARCA:MNA traded up $0.02 on Friday, reaching $36.78. 32,252 shares of the company’s stock were exchanged, compared to its average volume of 34,617. The firm has a market capitalization of $257.46 million, a price-to-earnings ratio of 25.78 and a beta of 0.07. The business has a fifty day moving average of $36.76 and a 200-day moving average of $36.54. NYLIM Merger Arbitrage ETF has a 52-week low of $35.56 and a 52-week high of $37.19.

About NYLIM 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.