NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Stock Short Interest Drops 52.3%

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 4,267 shares, a drop of 52.3% from the September 30th total of 8,953 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 90,460 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On NYLIM Merger Arbitrage ETF

Hedge funds have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC increased its position in shares of NYLIM Merger Arbitrage ETF by 12.0% during the third quarter. Diversify Advisory Services LLC now owns 7,503 shares of the company’s stock worth $276,000 after acquiring an additional 806 shares during the period. Parallel Advisors LLC boosted its holdings in shares of NYLIM Merger Arbitrage ETF by 17.7% in the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock valued at $244,000 after purchasing an additional 1,010 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of NYLIM Merger Arbitrage ETF by 1.5% in the third quarter. Kingswood Wealth Advisors LLC now owns 81,279 shares of the company’s stock valued at $2,994,000 after purchasing an additional 1,203 shares during the period. RHS Financial LLC grew its stake in NYLIM Merger Arbitrage ETF by 11.4% in the third quarter. RHS Financial LLC now owns 12,670 shares of the company’s stock worth $467,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Stonehearth Capital Management LLC grew its stake in NYLIM Merger Arbitrage ETF by 9.3% in the third quarter. Stonehearth Capital Management LLC now owns 17,944 shares of the company’s stock worth $661,000 after purchasing an additional 1,533 shares in the last quarter.

NYLIM Merger Arbitrage ETF Stock Down 0.4%

MNA traded down $0.14 on Friday, reaching $36.86. 25,221 shares of the company traded hands, compared to its average volume of 33,758. NYLIM Merger Arbitrage ETF has a one year low of $35.57 and a one year high of $37.19. The firm has a fifty day simple moving average of $36.79 and a two-hundred day simple moving average of $36.48. The company has a market cap of $261.71 million, a P/E ratio of 25.78 and a beta of 0.07.

NYLIM Merger Arbitrage ETF Company Profile

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.