NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT – Get Free Report) saw unusually-strong trading volume on Thursday. Approximately 1,088,311 shares changed hands during trading, an increase of 157% from the previous session’s volume of 423,838 shares. The stock last traded at $22.87 and had previously closed at $22.90.
NYLIM MacKay Shields Municipal Intermediate ETF Stock Performance
The stock has a 50 day moving average price of $23.63 and a 200 day moving average price of $24.04.
Institutional Trading of NYLIM MacKay Shields Municipal Intermediate ETF
Hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. purchased a new position in NYLIM MacKay Shields Municipal Intermediate ETF in the first quarter valued at about $162,000. Western Wealth Management LLC bought a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the 1st quarter worth approximately $180,000. Gateway Wealth Partners LLC bought a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the 1st quarter worth approximately $227,000. Fluent Financial LLC purchased a new position in NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter valued at approximately $251,000. Finally, NewEdge Advisors LLC lifted its stake in NYLIM MacKay Shields Municipal Intermediate ETF by 24.2% in the second quarter. NewEdge Advisors LLC now owns 11,699 shares of the company’s stock valued at $285,000 after purchasing an additional 2,281 shares during the last quarter.
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.
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