Short Interest in NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Decreases By 90.7%

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 8,367 shares, a decrease of 90.7% from the February 26th total of 90,421 shares. Based on an average daily trading volume, of 34,789 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

NYLI Merger Arbitrage ETF Stock Down 0.4%

NYSEARCA:MNA traded down $0.14 during mid-day trading on Thursday, hitting $36.24. 11,340 shares of the stock traded hands, compared to its average volume of 34,461. The business’s 50-day moving average price is $36.21 and its 200 day moving average price is $35.96. The company has a market cap of $253.68 million, a PE 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNA. Kingswood Wealth Advisors LLC increased its stake in NYLI Merger Arbitrage ETF by 72.9% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 108,615 shares of the company’s stock worth $3,899,000 after acquiring an additional 45,792 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of NYLI Merger Arbitrage ETF during the 3rd quarter valued at about $363,000. Ameriprise Financial Inc. grew its holdings in shares of NYLI Merger Arbitrage ETF by 10.4% during the third quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after purchasing an additional 17,920 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of NYLI Merger Arbitrage ETF by 3,467.5% during the fourth quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock worth $204,000 after purchasing an additional 5,548 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of NYLI Merger Arbitrage ETF by 85.0% in 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.

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.