NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Volume Increase – Time to Buy?

Shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) saw an uptick in trading volume on Wednesday . 1,133,909 shares changed hands during mid-day trading, an increase of 289% from the previous session’s volume of 291,390 shares.The stock last traded at $24.14 and had previously closed at $24.10.

NYLI MacKay Shields Municipal Intermediate ETF Price Performance

The stock’s 50 day moving average price is $24.48 and its 200-day moving average price is $24.39.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, March 3rd. Investors of record on Friday, February 27th were given a dividend of $0.0668 per share. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 3.3%.

Institutional Trading of NYLI MacKay Shields Municipal Intermediate ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 105.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 172,365 shares of the company’s stock worth $4,194,000 after purchasing an additional 88,295 shares during the last quarter. Corient Private Wealth LLC bought a new position in NYLI MacKay Shields Municipal Intermediate ETF during the fourth quarter valued at approximately $790,000. 46 Peaks LLC purchased a new position in NYLI MacKay Shields Municipal Intermediate ETF during the 4th quarter valued at approximately $4,453,000. Axxcess Wealth Management LLC grew its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 2.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 43,206 shares of the company’s stock valued at $1,051,000 after buying an additional 1,103 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the 4th quarter worth approximately $375,000.

About NYLI 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.