NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Strong Trading Volume – Here’s What Happened

Shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw an uptick in trading volume on Wednesday . 1,133,909 shares traded hands during mid-day trading, an increase of 289% from the previous session’s volume of 291,390 shares.The stock last traded at $24.14 and had previously closed at $24.10.

NYLI MacKay Shields Municipal Intermediate ETF Trading Up 0.2%

The business has a 50-day simple moving average of $24.49 and a 200-day simple moving average of $24.40.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 3rd. Investors of record on Friday, February 27th were issued a dividend of $0.0668 per share. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, February 27th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MMIT. Orgel Wealth Management LLC grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 3.7% in the fourth quarter. Orgel Wealth Management LLC now owns 6,325,741 shares of the company’s stock valued at $153,905,000 after purchasing an additional 222,858 shares during the last quarter. Bank of America Corp DE increased its position in NYLI MacKay Shields Municipal Intermediate ETF by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 5,013,103 shares of the company’s stock worth $121,818,000 after buying an additional 469,447 shares during the period. Morgan Stanley lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 7.0% during the fourth quarter. Morgan Stanley now owns 2,785,502 shares of the company’s stock worth $67,771,000 after buying an additional 183,188 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 9.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 2,260,794 shares of the company’s stock valued at $55,005,000 after acquiring an additional 197,225 shares during the period. Finally, Schneider Downs Wealth Management Advisors LP grew its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 22.0% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,242,166 shares of the company’s stock worth $54,485,000 after acquiring an additional 403,900 shares during the last quarter.

About NYLI MacKay Shields Municipal Intermediate ETF

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.