NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Volume Increase – What’s Next?

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) shares saw an uptick in trading volume on Tuesday . 6,866,754 shares traded hands during mid-day trading, an increase of 2,108% from the previous session’s volume of 310,960 shares.The stock last traded at $24.20 and had previously closed at $24.14.

NYLI MacKay Shields Municipal Intermediate ETF Price Performance

The business has a 50-day simple moving average of $24.25 and a two-hundred day simple moving average of $24.38.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several large investors have recently made changes to their positions in the business. J.W. Cole Advisors Inc. lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 2.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 15,991 shares of the company’s stock worth $389,000 after purchasing an additional 433 shares during the last quarter. Opes Wealth Management LLC lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.2% during the 3rd quarter. Opes Wealth Management LLC now owns 39,735 shares of the company’s stock worth $966,000 after purchasing an additional 480 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock worth $97,000 after purchasing an additional 584 shares during the last quarter. United Community Bank lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 12.6% during the 4th quarter. United Community Bank now owns 5,375 shares of the company’s stock worth $131,000 after purchasing an additional 600 shares during the last quarter. Finally, PKS Advisory Services LLC lifted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 1.7% during the 3rd quarter. PKS Advisory Services LLC now owns 39,622 shares of the company’s stock worth $963,000 after purchasing an additional 671 shares during the last quarter.

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.