NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Sets New 1-Year Low – Here’s What Happened

NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $23.65 and last traded at $23.65, with a volume of 220745 shares changing hands. The stock had previously closed at $23.66.

NYLI MacKay Shields Municipal Intermediate ETF Price Performance

The stock has a 50-day moving average price of $24.06 and a two-hundred day moving average price of $24.24.

Hedge Funds Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several hedge funds have recently modified their holdings of MMIT. CWM LLC acquired a new stake in NYLI MacKay Shields Municipal Intermediate ETF in the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter worth $27,000. BOKF NA purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the third quarter worth $53,000. Root Financial Partners LLC purchased a new position in shares of NYLI MacKay Shields Municipal Intermediate ETF in the fourth quarter worth $83,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 16.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,056 shares of the company’s stock valued at $97,000 after buying an additional 584 shares during the last quarter.

NYLI 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.