NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Sees Significant Decline in Short Interest

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 4,267 shares, a drop of 52.3% from the September 30th total of 8,953 shares. Based on an average daily trading volume, of 90,460 shares, the short-interest ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are short sold.

NYLIM Merger Arbitrage ETF Stock Down 0.4%

NYSEARCA MNA traded down $0.14 during trading hours on Friday, hitting $36.86. 25,221 shares of the company were exchanged, compared to its average volume of 33,758. The stock has a 50-day moving average price of $36.79 and a 200 day moving average price of $36.48. NYLIM Merger Arbitrage ETF has a 52 week low of $35.57 and a 52 week high of $37.19. The stock has a market cap of $261.71 million, a PE ratio of 25.78 and a beta of 0.07.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in shares of NYLIM Merger Arbitrage ETF by 17.7% during the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after acquiring an additional 1,010 shares during the last quarter. Diversify Advisory Services LLC grew its position in NYLIM Merger Arbitrage ETF by 12.0% in the 3rd quarter. Diversify Advisory Services LLC now owns 7,503 shares of the company’s stock valued at $276,000 after acquiring an additional 806 shares during the last quarter. RHS Financial LLC grew its position in NYLIM Merger Arbitrage ETF by 11.4% in the 3rd quarter. RHS Financial LLC now owns 12,670 shares of the company’s stock valued at $467,000 after acquiring an additional 1,295 shares during the last quarter. Stonehearth Capital Management LLC grew its position in NYLIM Merger Arbitrage ETF by 9.3% in the 3rd quarter. Stonehearth Capital Management LLC now owns 17,944 shares of the company’s stock valued at $661,000 after acquiring an additional 1,533 shares during the last quarter. Finally, Collaborative Fund Advisors LLC purchased a new stake in NYLIM Merger Arbitrage ETF in the first quarter worth $2,216,000.

NYLIM Merger Arbitrage ETF Company Profile

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.