NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sets New 12-Month Low – What’s Next?

NYLIM MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $23.39 and last traded at $23.39, with a volume of 556925 shares. The stock had previously closed at $23.45.

NYLIM MacKay Shields Municipal Intermediate ETF Stock Down 0.3%

The stock’s fifty day moving average price is $23.98 and its 200-day moving average price is $24.20.

Institutional Trading of NYLIM MacKay Shields Municipal Intermediate ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of NYLIM MacKay Shields Municipal Intermediate ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 6,215,015 shares of the company’s stock worth $149,813,000 after acquiring an additional 471,765 shares during the period. Meeder Advisory Services Inc. lifted its holdings in NYLIM MacKay Shields Municipal Intermediate ETF by 30.3% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,944,732 shares of the company’s stock valued at $70,983,000 after purchasing an additional 683,938 shares during the last quarter. Cetera Investment Advisers boosted its position in NYLIM MacKay Shields Municipal Intermediate ETF by 5.5% during the first quarter. Cetera Investment Advisers now owns 2,053,468 shares of the company’s stock worth $49,499,000 after purchasing an additional 107,132 shares during the period. Royal Bank of Canada boosted its position in NYLIM MacKay Shields Municipal Intermediate ETF by 23.9% during the first quarter. Royal Bank of Canada now owns 712,696 shares of the company’s stock worth $17,180,000 after purchasing an additional 137,591 shares during the period. Finally, Waverly Advisors LLC acquired a new position in shares of NYLIM MacKay Shields Municipal Intermediate ETF in the second quarter valued at $13,967,000.

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.