NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $36.80 and traded as low as $36.70. NYLIM Merger Arbitrage ETF shares last traded at $36.76, with a volume of 15,347 shares traded.

NYLIM Merger Arbitrage ETF Stock Performance

The firm has a market cap of $261.14 million, a P/E ratio of 25.78 and a beta of 0.07. The business’s 50-day simple moving average is $36.81 and its 200 day simple moving average is $36.52.

Hedge Funds Weigh In On NYLIM Merger Arbitrage ETF

A number of institutional investors and hedge funds have recently modified their holdings of MNA. Parallel Advisors LLC lifted its holdings in NYLIM Merger Arbitrage ETF by 17.7% in the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock valued at $244,000 after acquiring an additional 1,010 shares during the period. Diversify Advisory Services LLC boosted its position in NYLIM Merger Arbitrage ETF by 12.0% in the third quarter. Diversify Advisory Services LLC now owns 7,503 shares of the company’s stock worth $276,000 after purchasing an additional 806 shares during the last quarter. RHS Financial LLC boosted its position in NYLIM Merger Arbitrage ETF by 11.4% in the third quarter. RHS Financial LLC now owns 12,670 shares of the company’s stock worth $467,000 after purchasing an additional 1,295 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of NYLIM Merger Arbitrage ETF during the 3rd quarter valued at about $522,000. Finally, Good Steward Wealth Advisors LLC grew its stake in shares of NYLIM Merger Arbitrage ETF by 12.7% during the 3rd quarter. Good Steward Wealth Advisors LLC now owns 15,303 shares of the company’s stock valued at $564,000 after purchasing an additional 1,727 shares during the period.

About NYLIM Merger Arbitrage ETF

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.