NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sees Large Drop in Short Interest

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 11,329 shares, a drop of 92.0% from the October 15th total of 142,026 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 1,361,848 shares, the days-to-cover ratio is presently 0.0 days.

NYLIM MacKay Shields Municipal Intermediate ETF Price Performance

Shares of NYLIM MacKay Shields Municipal Intermediate ETF stock traded down $0.06 during trading hours on Tuesday, reaching $23.84. 508,929 shares of the company’s stock were exchanged, compared to its average volume of 514,551. The business has a fifty day moving average of $23.38 and a two-hundred day moving average of $24.07. NYLIM MacKay Shields Municipal Intermediate ETF has a 1 year low of $22.77 and a 1 year high of $24.77.

Institutional Investors Weigh In On NYLIM MacKay Shields Municipal Intermediate ETF

Several hedge funds and other institutional investors have recently bought and sold shares of MMIT. Signature Equity Partners LLC raised its stake in NYLIM MacKay Shields Municipal Intermediate ETF by 157.3% during the third quarter. Signature Equity Partners LLC now owns 3,855 shares of the company’s stock worth $88,000 after purchasing an additional 2,357 shares during the period. Western Wealth Management LLC purchased a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the first quarter worth about $180,000. Gateway Wealth Partners LLC purchased a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the first quarter worth $227,000. MBM Wealth Consultants LLC purchased a new position in NYLIM MacKay Shields Municipal Intermediate ETF during the 3rd quarter valued at about $227,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF during the third quarter worth about $236,000.

NYLIM 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.