NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Reaches New 12-Month Low – What’s Next?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) reached a new 52-week low during trading on Tuesday . The stock traded as low as $23.77 and last traded at $23.77, with a volume of 60402 shares changing hands. The stock had previously closed at $23.84.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

The business’s 50-day moving average is $24.11 and its two-hundred day moving average is $24.27.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several institutional investors have recently made changes to their positions in MMIT. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after purchasing an additional 584 shares during the last quarter. Stronghold Wealth Management L.L.C. grew its stake in NYLI MacKay Shields Municipal Intermediate ETF by 3.4% during the 1st quarter. Stronghold Wealth Management L.L.C. now owns 25,201 shares of the company’s stock worth $607,000 after buying an additional 832 shares during the last quarter. 46 Peaks LLC grew its stake in NYLI MacKay Shields Municipal Intermediate ETF by 0.6% during the 1st quarter. 46 Peaks LLC now owns 183,500 shares of the company’s stock worth $4,423,000 after buying an additional 1,018 shares during the last quarter. CWM LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter worth $26,000. Finally, Axxcess Wealth Management LLC increased its position in NYLI MacKay Shields Municipal Intermediate ETF by 2.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 43,206 shares of the company’s stock worth $1,051,000 after buying an additional 1,103 shares during the period.

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.