NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Unusually-High Trading Volume – What’s Next?

Shares of NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw an uptick in trading volume on Thursday. Approximately 1,088,311 shares changed hands during mid-day trading, an increase of 157% from the previous session’s volume of 423,838 shares. The stock last traded at $22.87 and had previously closed at $22.90.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Down 0.2%

The company’s fifty day moving average price is $23.63 and its 200 day moving average price is $24.04.

Institutional Investors Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock worth $149,813,000 after buying an additional 471,765 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 30.3% during the first quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock valued at $70,983,000 after acquiring an additional 683,938 shares during the last quarter. Cetera Investment Advisers increased its position in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 5.5% during the first quarter. Cetera Investment Advisers now owns 2,053,468 shares of the company’s stock valued at $49,499,000 after acquiring an additional 107,132 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 10.2% during the second quarter. Envestnet Asset Management Inc. now owns 983,337 shares of the company’s stock worth $23,944,000 after acquiring an additional 91,392 shares during the period. Finally, Royal Bank of Canada lifted its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 23.9% during the first quarter. Royal Bank of Canada now owns 712,696 shares of the company’s stock worth $17,180,000 after acquiring an additional 137,591 shares during the period.

NYLIM 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.