NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Stock Short Interest Climbs 176.5%

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) saw a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 11,798 shares, an increase of 176.5% from the October 15th total of 4,267 shares. Based on an average daily volume of 19,043 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On NYLIM Merger Arbitrage ETF

A number of institutional investors have recently made changes to their positions in MNA. Diversify Advisory Services LLC boosted its position in shares of NYLIM Merger Arbitrage ETF by 12.0% during the third quarter. Diversify Advisory Services LLC now owns 7,503 shares of the company’s stock worth $276,000 after buying an additional 806 shares during the period. Parallel Advisors LLC increased its position in shares of NYLIM Merger Arbitrage ETF by 17.7% during the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after acquiring an additional 1,010 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of NYLIM Merger Arbitrage ETF by 1.5% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 81,279 shares of the company’s stock valued at $2,994,000 after buying an additional 1,203 shares during the period. RHS Financial LLC lifted its stake 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 acquiring an additional 1,295 shares during the last quarter. Finally, Stonehearth Capital Management LLC grew its stake in shares of NYLIM Merger Arbitrage ETF by 9.3% during the third quarter. Stonehearth Capital Management LLC now owns 17,944 shares of the company’s stock worth $661,000 after purchasing an additional 1,533 shares in the last quarter.

NYLIM Merger Arbitrage ETF Price Performance

MNA stock opened at $36.78 on Friday. NYLIM Merger Arbitrage ETF has a 1 year low of $35.57 and a 1 year high of $37.19. The firm has a market capitalization of $261.14 million, a PE ratio of 25.78 and a beta of 0.07. The business has a 50 day simple moving average of $36.81 and a 200-day simple moving average of $36.52.

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.