Short Interest in NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Expands By 733.0%

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 90,421 shares, an increase of 733.0% from the February 12th total of 10,855 shares. Based on an average trading volume of 26,736 shares, the days-to-cover ratio is currently 3.4 days. Approximately 1.3% of the shares of the company are short sold. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 26,736 shares, the days-to-cover ratio is currently 3.4 days.

NYLI Merger Arbitrage ETF Stock Performance

Shares of NYSEARCA MNA traded down $0.19 during trading hours on Tuesday, hitting $36.13. The company’s stock had a trading volume of 70,106 shares, compared to its average volume of 38,681. The business has a 50-day simple moving average of $36.15 and a 200-day simple moving average of $35.93. The stock has a market cap of $252.91 million, a price-to-earnings ratio of 25.78 and a beta of 0.06. NYLI Merger Arbitrage ETF has a 12 month low of $33.40 and a 12 month high of $36.73.

Institutional Trading of NYLI Merger Arbitrage ETF

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in NYLI Merger Arbitrage ETF by 3,467.5% in the 4th quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock worth $204,000 after purchasing an additional 5,548 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in NYLI Merger Arbitrage ETF by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock valued at $4,008,000 after acquiring an additional 3,378 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of NYLI Merger Arbitrage ETF by 85.0% during the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after purchasing an additional 16,831 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in NYLI Merger Arbitrage ETF by 293.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock worth $59,000 after acquiring an additional 1,220 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of NYLI Merger Arbitrage ETF by 10.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock valued at $6,807,000 after acquiring an additional 17,920 shares during the period.

About NYLI 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.