Focus Financial Network Inc. Sells 553 Shares of IQ Merger Arbitrage ETF (NYSEARCA:MNA)

Focus Financial Network Inc. lessened its holdings in IQ Merger Arbitrage ETF (NYSEARCA:MNA) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,970 shares of the company’s stock after selling 553 shares during the quarter. Focus Financial Network Inc. owned 0.21% of IQ Merger Arbitrage ETF worth $574,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of IQ Merger Arbitrage ETF by 8.8% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 65,532 shares of the company’s stock worth $2,071,000 after purchasing an additional 5,274 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in IQ Merger Arbitrage ETF during the second quarter worth $214,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in IQ Merger Arbitrage ETF during the second quarter worth $168,000. Comerica Bank raised its position in IQ Merger Arbitrage ETF by 1,562.1% during the first quarter. Comerica Bank now owns 1,712 shares of the company’s stock worth $54,000 after acquiring an additional 1,609 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in IQ Merger Arbitrage ETF by 69.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 473,974 shares of the company’s stock worth $14,973,000 after acquiring an additional 194,374 shares in the last quarter.

IQ Merger Arbitrage ETF Price Performance

NYSEARCA MNA traded up $0.01 on Tuesday, hitting $32.59. 49,223 shares of the stock were exchanged, compared to its average volume of 50,916. The business’s fifty day moving average is $31.83 and its 200 day moving average is $31.44. IQ Merger Arbitrage ETF has a 52 week low of $30.36 and a 52 week high of $32.63. The company has a market capitalization of $280.27 million, a PE ratio of 17.60 and a beta of 0.15.

IQ 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.