NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Significant Growth in Short Interest

NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 127,924 shares, a growth of 1,296.6% from the April 15th total of 9,160 shares. Based on an average trading volume of 150,660 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.7% of the shares of the stock are short sold.

NYLI MacKay Municipal Insured ETF Stock Performance

NYSEARCA:MMIN traded up $0.05 during mid-day trading on Monday, hitting $24.04. 57,161 shares of the company’s stock traded hands, compared to its average volume of 96,939. The firm’s 50 day simple moving average is $23.99 and its 200 day simple moving average is $24.04. NYLI MacKay Municipal Insured ETF has a 1 year low of $22.77 and a 1 year high of $24.44.

Hedge Funds Weigh In On NYLI MacKay Municipal Insured ETF

Several hedge funds have recently added to or reduced their stakes in MMIN. Hilton Head Capital Partners LLC purchased a new position in NYLI MacKay Municipal Insured ETF during the 4th quarter valued at about $1,712,000. Cornerstone Advisors Asset Management LLC increased its holdings in NYLI MacKay Municipal Insured ETF by 5.2% during the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock valued at $16,605,000 after acquiring an additional 34,447 shares in the last quarter. NewEdge Advisors LLC purchased a new position in NYLI MacKay Municipal Insured ETF during the 1st quarter valued at about $398,000. Cary Street Partners Financial LLC purchased a new position in NYLI MacKay Municipal Insured ETF during the 3rd quarter valued at about $202,000. Finally, Millstone Evans Group LLC increased its holdings in NYLI MacKay Municipal Insured ETF by 34.0% during the 3rd quarter. Millstone Evans Group LLC now owns 5,673 shares of the company’s stock valued at $135,000 after acquiring an additional 1,440 shares in the last quarter.

NYLI MacKay Municipal Insured ETF Company Profile

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.