NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Stock Price Up 0.1% – Should You Buy?

Shares of NYLI Merger Arbitrage ETF (NYSEARCA:MNA) traded up 0.1% on Tuesday . The company traded as high as $36.31 and last traded at $36.29. 18,675 shares traded hands during trading, a decline of 48% from the average session volume of 35,830 shares. The stock had previously closed at $36.25.

NYLI Merger Arbitrage ETF Stock Performance

The stock has a market capitalization of $254.52 million, a PE ratio of 25.78 and a beta of 0.08. The stock has a 50-day moving average price of $36.28 and a two-hundred day moving average price of $36.02.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of NYLI Merger Arbitrage ETF by 293.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,636 shares of the company’s stock valued at $59,000 after buying an additional 1,220 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of NYLI Merger Arbitrage ETF by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock valued at $4,008,000 after buying an additional 3,378 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of NYLI Merger Arbitrage ETF by 3,467.5% during the 4th quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock valued at $204,000 after buying an additional 5,548 shares in the last quarter. Worth Asset Management LLC bought a new stake in NYLI Merger Arbitrage ETF during the 3rd quarter valued at approximately $363,000. Finally, Farther Finance Advisors LLC raised its stake in NYLI Merger Arbitrage ETF by 85.0% during the 4th quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock valued at $1,311,000 after purchasing an additional 16,831 shares during the period.

NYLI Merger Arbitrage ETF Company Profile

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.