Concurrent Investment Advisors LLC Takes $8.72 Million Position in NYLI MacKay Shields Municipal Intermediate ETF $MMIT

Concurrent Investment Advisors LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 358,065 shares of the company’s stock, valued at approximately $8,719,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC acquired a new position in NYLI MacKay Shields Municipal Intermediate ETF during the fourth quarter worth about $26,000. CIBC Private Wealth Group LLC acquired a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at approximately $27,000. BOKF NA purchased a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 3rd quarter worth approximately $53,000. Root Financial Partners LLC purchased a new stake in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter worth approximately $83,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after acquiring an additional 584 shares in the last quarter.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

MMIT opened at $23.66 on Friday. The stock’s 50 day simple moving average is $24.08 and its 200 day simple moving average is $24.25. NYLI MacKay Shields Municipal Intermediate ETF has a 1-year low of $23.65 and a 1-year high of $24.77.

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.