NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Trading Down 0.3% – Time to Sell?

NYLI Merger Arbitrage ETF (NYSEARCA:MNA)’s share price fell 0.3% on Monday . The stock traded as low as $36.49 and last traded at $36.49. Approximately 18,979 shares traded hands during trading, a decline of 41% from the average daily volume of 32,415 shares. The stock had previously closed at $36.59.

NYLI Merger Arbitrage ETF Price Performance

The stock has a 50-day moving average price of $36.46 and a 200-day moving average price of $36.32. The firm has a market capitalization of $251.78 million, a PE ratio of 25.78 and a beta of 0.06.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NYLI Merger Arbitrage ETF by 293.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after buying an additional 1,220 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of NYLI Merger Arbitrage ETF by 3,467.5% in the fourth quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock worth $204,000 after buying an additional 5,548 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 buying an additional 16,831 shares during the last quarter. Collaborative Fund Advisors LLC bought a new stake in shares of NYLI Merger Arbitrage ETF in the first quarter worth $2,216,000. Finally, Kingswood Wealth Advisors LLC raised its holdings in NYLI Merger Arbitrage ETF by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock valued at $4,008,000 after acquiring an additional 3,378 shares in the last quarter.

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.