NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sets New 12-Month Low – What’s Next?

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $23.39 and last traded at $23.39, with a volume of 556925 shares. The stock had previously closed at $23.45.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Performance

The company has a fifty day simple moving average of $23.98 and a two-hundred day simple moving average of $24.20.

Institutional Trading of NYLIM MacKay Shields Municipal Intermediate ETF

A number of large investors have recently bought and sold shares of the business. Root Financial Partners LLC bought a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the 4th quarter worth approximately $83,000. Pinnacle Bancorp Inc. bought a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the first quarter valued at $162,000. Western Wealth Management LLC bought a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the first quarter valued at $180,000. Gateway Wealth Partners LLC acquired a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the first quarter worth $227,000. Finally, Fluent Financial LLC acquired a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the second quarter worth $251,000.

About NYLIM MacKay Shields Municipal Intermediate ETF

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.