NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Reaches New 12-Month High – Still a Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.86 and last traded at $34.7650, with a volume of 72491 shares trading hands. The stock had previously closed at $34.59.

NYLI Hedge Multi-Strategy Tracker ETF Stock Performance

The firm has a market cap of $792.30 million, a price-to-earnings ratio of 18.21 and a beta of 0.32. The stock’s fifty day moving average is $34.21 and its two-hundred day moving average is $33.73.

Hedge Funds Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Patten Group Inc. increased its position in NYLI Hedge Multi-Strategy Tracker ETF by 25.2% in the 2nd quarter. Patten Group Inc. now owns 12,808 shares of the company’s stock valued at $414,000 after acquiring an additional 2,576 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 7.0% in the second quarter. Flagship Harbor Advisors LLC now owns 20,865 shares of the company’s stock worth $674,000 after purchasing an additional 1,360 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 9.1% during the second quarter. Moors & Cabot Inc. now owns 8,672 shares of the company’s stock valued at $280,000 after purchasing an additional 722 shares during the period. LFA Lugano Financial Advisors SA raised its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 14.9% during the second quarter. LFA Lugano Financial Advisors SA now owns 103,139 shares of the company’s stock valued at $3,333,000 after purchasing an additional 13,395 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of NYLI Hedge Multi-Strategy Tracker ETF during the second quarter valued at about $227,000.

About NYLI Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.