Short Interest in NYLI MacKay California Municipal Intermediate ETF (NYSEARCA:MMCA) Declines By 69.9%

NYLI MacKay California Municipal Intermediate ETF (NYSEARCA:MMCA) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 14,427 shares, a decline of 69.9% from the February 26th total of 47,892 shares. Based on an average trading volume of 20,156 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMCA. Octavia Wealth Advisors LLC acquired a new position in shares of NYLI MacKay California Municipal Intermediate ETF in the 3rd quarter valued at about $1,800,000. Wedmont Private Capital purchased a new stake in shares of NYLI MacKay California Municipal Intermediate ETF in the third quarter worth approximately $249,000. FF Advisors LLC acquired a new stake in shares of NYLI MacKay California Municipal Intermediate ETF during the fourth quarter worth approximately $1,067,000. New York Life Insurance Co. acquired a new stake in shares of NYLI MacKay California Municipal Intermediate ETF during the fourth quarter worth approximately $25,132,000. Finally, Avantax Planning Partners Inc. purchased a new position in NYLI MacKay California Municipal Intermediate ETF during the fourth quarter valued at approximately $328,000.

NYLI MacKay California Municipal Intermediate ETF Trading Down 0.2%

NYLI MacKay California Municipal Intermediate ETF stock traded down $0.05 during midday trading on Thursday, reaching $21.53. The stock had a trading volume of 53,481 shares, compared to its average volume of 21,281. NYLI MacKay California Municipal Intermediate ETF has a twelve month low of $20.60 and a twelve month high of $23.00. The firm’s fifty day simple moving average is $21.99 and its two-hundred day simple moving average is $21.88.

NYLI MacKay California Municipal Intermediate ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Friday, February 27th were given a $0.054 dividend. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, February 27th.

About NYLI MacKay California Municipal Intermediate ETF

The IQ MacKay California Municipal Intermediate ETF (MMCA) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that invests primarily in investment-grade, intermediate-term municipal bonds that are exempt from federal and California income taxes. MMCA was launched on Dec 21, 2021 and is managed by IndexIQ.