Darwin Wealth Management LLC Invests $6.52 Million in NYLI MacKay Shields Municipal Intermediate ETF $MMIT

Darwin Wealth Management LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 270,300 shares of the company’s stock, valued at approximately $6,516,000. NYLI MacKay Shields Municipal Intermediate ETF comprises approximately 2.0% of Darwin Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMIT. Orgel Wealth Management LLC grew its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 3.7% during the 4th quarter. Orgel Wealth Management LLC now owns 6,325,741 shares of the company’s stock worth $153,905,000 after buying an additional 222,858 shares during the period. Bank of America Corp DE boosted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 5,013,103 shares of the company’s stock worth $121,818,000 after purchasing an additional 469,447 shares during the period. Morgan Stanley raised its stake in shares of NYLI MacKay Shields Municipal Intermediate ETF by 7.0% in the 4th quarter. Morgan Stanley now owns 2,785,502 shares of the company’s stock valued at $67,771,000 after purchasing an additional 183,188 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 9.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 2,260,794 shares of the company’s stock valued at $55,005,000 after purchasing an additional 197,225 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP boosted 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 buying an additional 403,900 shares during the period.

NYLI MacKay Shields Municipal Intermediate ETF Trading Down 0.1%

NYSEARCA:MMIT opened at $24.27 on Friday. The stock has a 50-day simple moving average of $24.29 and a 200 day simple moving average of $24.38. NYLI MacKay Shields Municipal Intermediate ETF has a 52-week low of $23.68 and a 52-week high of $24.77.

NYLI MacKay Shields Municipal Intermediate ETF Company Profile

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.