NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 12-Month High – What’s Next?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) shares hit a new 52-week high on Tuesday . The company traded as high as $24.69 and last traded at $24.6750, with a volume of 3274 shares. The stock had previously closed at $24.66.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

The firm’s 50 day simple moving average is $24.45 and its 200-day simple moving average is $24.28.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th were given a $0.0733 dividend. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, January 30th.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

A number of institutional investors and hedge funds have recently bought and sold shares of MMIT. Mariner LLC lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1,689.0% in the 3rd quarter. Mariner LLC now owns 1,181,175 shares of the company’s stock worth $28,703,000 after acquiring an additional 1,115,151 shares during the period. Midwest Trust Co increased its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 96.5% in the 4th quarter. Midwest Trust Co now owns 1,277,827 shares of the company’s stock valued at $31,090,000 after buying an additional 627,505 shares during the period. Bank of America Corp DE raised its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 5,013,103 shares of the company’s stock valued at $121,818,000 after buying an additional 469,447 shares in the last quarter. Condor Capital Management bought a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF during the 2nd quarter worth about $11,012,000. Finally, Schneider Downs Wealth Management Advisors LP boosted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 22.0% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 2,242,166 shares of the company’s stock valued at $54,485,000 after acquiring an additional 403,900 shares in the last quarter.

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.