NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Sees Large Decrease in Short Interest

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 9,006 shares, a decline of 33.0% from the January 15th total of 13,433 shares. Based on an average trading volume of 30,475 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 30,475 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in shares of NYLI Merger Arbitrage ETF by 70.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 171,803 shares of the company’s stock valued at $6,059,000 after purchasing an additional 71,109 shares during the period. Worth Asset Management LLC bought a new position in shares of NYLI Merger Arbitrage ETF during the third quarter worth about $363,000. Kingswood Wealth Advisors LLC raised its position in NYLI Merger Arbitrage ETF by 72.9% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 108,615 shares of the company’s stock valued at $3,899,000 after buying an additional 45,792 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in NYLI Merger Arbitrage ETF by 293.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of NYLI Merger Arbitrage ETF by 85.0% in the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after purchasing an additional 16,831 shares in the last quarter.

NYLI Merger Arbitrage ETF Price Performance

Shares of MNA stock traded up $0.09 during trading hours on Friday, reaching $36.34. The company had a trading volume of 29,910 shares, compared to its average volume of 41,654. NYLI Merger Arbitrage ETF has a 1-year low of $33.40 and a 1-year high of $36.73. The firm has a market cap of $254.38 million, a price-to-earnings ratio of 25.78 and a beta of 0.06. The company has a 50 day moving average of $36.01 and a 200 day moving average of $35.83.

NYLI Merger Arbitrage ETF Company Profile

The IQ Merger Arbitrage ETF (MNA) is an exchange-traded fund that is based on the IQ Merger Arbitrage index. The fund tracks an index that uses a merger arbitrage strategy with long exposure to takeover targets and short exposure to broad global equity indexes. MNA was launched on Nov 17, 2009 and is managed by IndexIQ.