NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Reaches New 12-Month High – Still a Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) reached a new 52-week high on Monday . The stock traded as high as $34.21 and last traded at $34.1950, with a volume of 17540 shares. The stock had previously closed at $34.14.

NYLI Hedge Multi-Strategy Tracker ETF Stock Performance

The stock has a 50-day moving average of $33.80 and a 200 day moving average of $33.36. The firm has a market capitalization of $793.90 million, a P/E ratio of 18.21 and a beta of 0.32.

Hedge Funds Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

Large investors have recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF in the second quarter valued at approximately $39,000. Advisors Preferred LLC boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 117.4% in the 3rd quarter. Advisors Preferred LLC now owns 1,263 shares of the company’s stock valued at $43,000 after buying an additional 682 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF in the 2nd quarter valued at $57,000. Farther Finance Advisors LLC increased its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 101.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,811 shares of the company’s stock valued at $59,000 after buying an additional 910 shares during the period. Finally, CWM LLC raised its position in shares of NYLI Hedge Multi-Strategy Tracker ETF by 30.5% during the third quarter. CWM LLC now owns 1,884 shares of the company’s stock worth $63,000 after acquiring an additional 440 shares during the last quarter.

About NYLI Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.