NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 12-Month High – Should You Buy?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) hit a new 52-week high on Tuesday . The stock traded as high as $24.69 and last traded at $24.6750, with a volume of 3274 shares trading hands. The stock had previously closed at $24.66.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

The business has a fifty day simple moving average of $24.46 and a 200 day simple moving average of $24.29.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, February 3rd. Investors of record on Friday, January 30th were issued a dividend of $0.0733 per share. The ex-dividend date was Friday, January 30th. This represents a c) annualized dividend and a yield of 3.6%.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

A number of hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 13.8% in the third quarter. Envestnet Asset Management Inc. now owns 670,295 shares of the company’s stock valued at $16,288,000 after acquiring an additional 81,096 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 2nd quarter worth approximately $671,000. Smallwood Wealth Investment Management LLC raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 21.0% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 132,825 shares of the company’s stock worth $3,228,000 after purchasing an additional 23,021 shares during the period. Meeder Advisory Services Inc. lifted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 8.0% in the third quarter. Meeder Advisory Services Inc. now owns 2,063,569 shares of the company’s stock valued at $50,145,000 after purchasing an additional 153,508 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 2.3% during the second quarter. Cetera Investment Advisers now owns 1,702,735 shares of the company’s stock valued at $40,610,000 after purchasing an additional 38,395 shares during the period.

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.