NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Drop in Short Interest

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the recipient of a significant decline in short interest in October. As of October 30th, there was short interest totaling 11,329 shares, a decline of 92.0% from the October 15th total of 142,026 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,361,848 shares, the short-interest ratio is currently 0.0 days.

NYLIM MacKay Shields Municipal Intermediate ETF Trading Down 0.5%

MMIT traded down $0.13 on Thursday, hitting $23.76. 1,003,974 shares of the company were exchanged, compared to its average volume of 516,873. The business’s fifty day moving average is $23.39 and its 200 day moving average is $24.06. NYLIM MacKay Shields Municipal Intermediate ETF has a fifty-two week low of $22.77 and a fifty-two week high of $24.77.

Institutional Investors Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Institutional investors have recently modified their holdings of the company. Signature Equity Partners LLC increased its stake in NYLIM MacKay Shields Municipal Intermediate ETF by 157.3% in the 3rd quarter. Signature Equity Partners LLC now owns 3,855 shares of the company’s stock valued at $88,000 after purchasing an additional 2,357 shares in the last quarter. Western Wealth Management LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF during the first quarter worth $180,000. Gateway Wealth Partners LLC acquired a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the first quarter valued at $227,000. MBM Wealth Consultants LLC acquired a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the third quarter valued at $227,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the third quarter valued at $236,000.

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.