NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Shares Down 0.2% – Should You Sell?

NYLI Merger Arbitrage ETF (NYSEARCA:MNA) fell 0.2% during mid-day trading on Monday . The stock traded as low as $33.58 and last traded at $33.65. 22,590 shares changed hands during trading, a decline of 28% from the average session volume of 31,497 shares. The stock had previously closed at $33.73.

NYLI Merger Arbitrage ETF Stock Performance

The firm has a market capitalization of $213.68 million, a P/E ratio of 21.65 and a beta of 0.14. The business has a fifty day moving average of $33.30 and a 200-day moving average of $32.97.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

Several institutional investors have recently bought and sold shares of MNA. Duncan Williams Asset Management LLC raised its holdings in NYLI Merger Arbitrage ETF by 2.3% during the fourth quarter. Duncan Williams Asset Management LLC now owns 16,990 shares of the company’s stock worth $560,000 after purchasing an additional 390 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of NYLI Merger Arbitrage ETF by 20.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,176 shares of the company’s stock valued at $171,000 after purchasing an additional 881 shares during the period. Finally, Flow Traders U.S. LLC bought a new stake in shares of NYLI Merger Arbitrage ETF in the 3rd quarter worth $220,000.

About NYLI 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.