NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) Stock Short Interest Declines 87.9%

NYLIM Merger Arbitrage ETF (NYSEARCA:MNA) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 8,953 shares, a decrease of 87.9% from the September 15th total of 73,939 shares. Based on an average daily volume of 23,189 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in NYLIM Merger Arbitrage ETF by 17.7% during the 1st quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock valued at $244,000 after purchasing an additional 1,010 shares during the period. Collaborative Fund Advisors LLC bought a new position in shares of NYLIM Merger Arbitrage ETF during the 1st quarter worth about $2,216,000. Finally, One Capital Management LLC acquired a new position in NYLIM Merger Arbitrage ETF in the 2nd quarter valued at approximately $6,567,000.

NYLIM Merger Arbitrage ETF Price Performance

MNA traded up $0.02 during midday trading on Friday, hitting $36.78. 32,252 shares of the company’s stock traded hands, compared to its average volume of 34,617. The company has a market cap of $257.46 million, a PE ratio of 25.78 and a beta of 0.07. The stock’s fifty day simple moving average is $36.76 and its 200-day simple moving average is $36.54. NYLIM Merger Arbitrage ETF has a one year low of $35.56 and a one year high of $37.19.

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.