NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Significant Growth in Short Interest

NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 19,209 shares, an increase of 147.4% from the February 26th total of 7,764 shares. Based on an average daily trading volume, of 65,979 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

NYLI MacKay Municipal Insured ETF Trading Up 0.1%

Shares of NYLI MacKay Municipal Insured ETF stock traded up $0.02 during midday trading on Friday, hitting $23.68. The company had a trading volume of 61,498 shares, compared to its average volume of 91,388. NYLI MacKay Municipal Insured ETF has a 1-year low of $22.30 and a 1-year high of $24.44. The business’s 50 day simple moving average is $24.10 and its two-hundred day simple moving average is $24.00.

NYLI MacKay Municipal Insured ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Friday, February 27th were given a $0.0733 dividend. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, February 27th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC bought a new stake in shares of NYLI MacKay Municipal Insured ETF in the fourth quarter valued at about $1,712,000. Flow Traders U.S. LLC bought a new position in NYLI MacKay Municipal Insured ETF during the second quarter valued at about $1,547,000. NewEdge Advisors LLC raised its holdings in NYLI MacKay Municipal Insured ETF by 80.2% in the 3rd quarter. NewEdge Advisors LLC now owns 33,991 shares of the company’s stock valued at $809,000 after acquiring an additional 15,132 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in NYLI MacKay Municipal Insured ETF in the 3rd quarter valued at approximately $202,000. Finally, Millstone Evans Group LLC lifted its position in shares of NYLI MacKay Municipal Insured ETF by 34.0% in the 3rd quarter. Millstone Evans Group LLC now owns 5,673 shares of the company’s stock worth $135,000 after acquiring an additional 1,440 shares during the period.

NYLI MacKay Municipal Insured ETF Company Profile

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.