NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Short Interest Update

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 66,732 shares, a growth of 127.5% from the May 31st total of 29,331 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 200,235 shares, the days-to-cover ratio is currently 0.3 days.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

Shares of NYSEARCA MMIT traded up $0.02 during midday trading on Monday, hitting $24.43. The company’s stock had a trading volume of 162,168 shares, compared to its average volume of 353,719. The stock has a fifty day moving average price of $24.30 and a 200 day moving average price of $24.38. NYLI MacKay Shields Municipal Intermediate ETF has a one year low of $23.68 and a one year high of $24.77.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MMIT. Mariner LLC raised its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 1,689.0% during the 3rd quarter. Mariner LLC now owns 1,181,175 shares of the company’s stock valued at $28,703,000 after acquiring an additional 1,115,151 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 30.3% in the first quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock worth $70,983,000 after acquiring an additional 683,938 shares during the period. Midwest Trust Co grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 96.5% in the fourth quarter. Midwest Trust Co now owns 1,277,827 shares of the company’s stock valued at $31,090,000 after purchasing an additional 627,505 shares in the last quarter. Bank of America Corp DE grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 8.2% in the first quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock valued at $149,813,000 after purchasing an additional 471,765 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP grew its position 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 valued at $54,485,000 after purchasing an additional 403,900 shares in the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Company Profile

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.