NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Significant Increase in Short Interest

NYLIM MacKay Municipal Insured ETF (NYSEARCA:MMIN) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 587,576 shares, an increase of 424.2% from the October 15th total of 112,085 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 688,676 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On NYLIM MacKay Municipal Insured ETF

Hedge funds have recently modified their holdings of the business. Purus Wealth Management LLC raised its stake in NYLIM MacKay Municipal Insured ETF by 6.4% during the 3rd quarter. Purus Wealth Management LLC now owns 77,485 shares of the company’s stock valued at $1,725,000 after acquiring an additional 4,690 shares during the last quarter. Croban grew its stake in shares of NYLIM MacKay Municipal Insured ETF by 6.1% in the 3rd quarter. Croban now owns 82,329 shares of the company’s stock valued at $1,832,000 after purchasing an additional 4,724 shares during the last quarter. Cooper Financial Group grew its stake in shares of NYLIM MacKay Municipal Insured ETF by 38.6% in the 3rd quarter. Cooper Financial Group now owns 20,286 shares of the company’s stock valued at $452,000 after purchasing an additional 5,645 shares during the last quarter. Harbour Investments Inc. acquired a new position in shares of NYLIM MacKay Municipal Insured ETF in the third quarter valued at approximately $128,000. Finally, Landmark Wealth Management LLC increased its holdings in shares of NYLIM MacKay Municipal Insured ETF by 32.9% in the third quarter. Landmark Wealth Management LLC now owns 39,031 shares of the company’s stock valued at $869,000 after purchasing an additional 9,655 shares during the period.

NYLIM MacKay Municipal Insured ETF Stock Performance

Shares of MMIN stock traded down $0.20 during mid-day trading on Thursday, hitting $23.16. 259,869 shares of the stock were exchanged, compared to its average volume of 154,450. The stock’s fifty day simple moving average is $22.83 and its two-hundred day simple moving average is $23.69. NYLIM MacKay Municipal Insured ETF has a 12-month low of $22.11 and a 12-month high of $24.44.

About NYLIM MacKay Municipal Insured ETF

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.