NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 12-Month Low – Here’s Why

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) reached a new 52-week low during trading on Tuesday . The company traded as low as $23.39 and last traded at $23.39, with a volume of 556925 shares changing hands. The stock had previously closed at $23.45.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Up 0.2%

The company’s fifty day simple moving average is $23.94 and its two-hundred day simple moving average is $24.18.

Institutional Investors Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Large investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the 4th quarter worth approximately $83,000. Pinnacle Bancorp Inc. bought a new stake in NYLIM MacKay Shields Municipal Intermediate ETF in the 1st quarter valued at about $162,000. Western Wealth Management LLC purchased a new stake in NYLIM MacKay Shields Municipal Intermediate ETF during the first quarter valued at about $180,000. Gateway Wealth Partners LLC bought a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the first quarter worth about $227,000. Finally, Fluent Financial LLC purchased a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter worth about $251,000.

About NYLIM 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.