NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Sees Large Volume Increase – Should You Buy?

Shares of NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) saw unusually-high trading volume on Monday . Approximately 302,733 shares were traded during trading, an increase of 193% from the previous session’s volume of 103,359 shares.The stock last traded at $32.08 and had previously closed at $31.93.

NYLI Hedge Multi-Strategy Tracker ETF Trading Up 0.5%

The firm has a market capitalization of $702.44 million, a price-to-earnings ratio of 18.21 and a beta of 0.31. The business has a 50-day moving average price of $31.41 and a two-hundred day moving average price of $31.67.

Institutional Investors Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC grew its holdings in NYLI Hedge Multi-Strategy Tracker ETF by 40.2% in the 4th quarter. New York Life Investment Management LLC now owns 9,308 shares of the company’s stock worth $292,000 after buying an additional 2,668 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 12.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 21,425 shares of the company’s stock worth $673,000 after acquiring an additional 2,309 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 204.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,198 shares of the company’s stock valued at $100,000 after purchasing an additional 2,149 shares during the period. Patten Group Inc. raised its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 28.8% during the fourth quarter. Patten Group Inc. now owns 9,711 shares of the company’s stock valued at $305,000 after purchasing an additional 2,174 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in NYLI Hedge Multi-Strategy Tracker ETF by 7.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 314,633 shares of the company’s stock worth $9,883,000 after purchasing an additional 21,966 shares during the period.

About NYLI Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.