NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Significant Growth in Short Interest

NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 127,924 shares, an increase of 1,296.6% from the April 15th total of 9,160 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 150,660 shares, the days-to-cover ratio is presently 0.8 days.

NYLI MacKay Municipal Insured ETF Price Performance

Shares of MMIN traded up $0.05 during mid-day trading on Monday, hitting $24.04. The company had a trading volume of 57,161 shares, compared to its average volume of 96,939. The business’s 50-day simple moving average is $23.99 and its 200-day simple moving average is $24.04. NYLI MacKay Municipal Insured ETF has a 1-year low of $22.77 and a 1-year high of $24.44.

Institutional Investors Weigh In On NYLI MacKay Municipal Insured ETF

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its position in shares of NYLI MacKay Municipal Insured ETF by 11.9% in the second quarter. NewEdge Advisors LLC now owns 18,859 shares of the company’s stock worth $440,000 after acquiring an additional 2,010 shares during the last quarter. Cornerstone Advisors Asset Management LLC boosted its position in shares of NYLI MacKay Municipal Insured ETF by 5.2% in the first quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock worth $16,605,000 after acquiring an additional 34,447 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of NYLI MacKay Municipal Insured ETF in the fourth quarter worth approximately $1,712,000. Cary Street Partners Financial LLC acquired a new stake in shares of NYLI MacKay Municipal Insured ETF in the third quarter worth approximately $202,000. Finally, Millstone Evans Group LLC boosted its position in shares of NYLI MacKay Municipal Insured ETF by 34.0% in the third quarter. Millstone Evans Group LLC now owns 5,673 shares of the company’s stock worth $135,000 after acquiring an additional 1,440 shares during the last quarter.

About NYLI MacKay Municipal Insured ETF

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.