NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Reaches New 1-Year Low – Here’s What Happened

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $23.77 and last traded at $23.77, with a volume of 60402 shares changing hands. The stock had previously closed at $23.84.

NYLI MacKay Shields Municipal Intermediate ETF Trading Down 0.6%

The stock has a fifty day simple moving average of $24.13 and a 200-day simple moving average of $24.28.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Large investors have recently bought and sold shares of the company. Mariner LLC grew its holdings 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 valued at $28,703,000 after buying an additional 1,115,151 shares during the period. Meeder Advisory Services Inc. raised its stake in NYLI MacKay Shields Municipal Intermediate ETF by 30.3% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock worth $70,983,000 after buying an additional 683,938 shares during the period. Midwest Trust Co lifted its holdings in NYLI MacKay Shields Municipal Intermediate ETF by 96.5% during the fourth quarter. Midwest Trust Co now owns 1,277,827 shares of the company’s stock worth $31,090,000 after acquiring an additional 627,505 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 8.2% in the first quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock worth $149,813,000 after acquiring an additional 471,765 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP raised its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 22.0% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,242,166 shares of the company’s stock worth $54,485,000 after purchasing an additional 403,900 shares during the period.

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.