NYLI Merger Arbitrage ETF (NYSEARCA:MNA – Get Free Report)’s stock price shot up 0.2% during trading on Thursday . The stock traded as high as $36.47 and last traded at $36.30. 12,071 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 32,168 shares. The stock had previously closed at $36.24.
NYLI Merger Arbitrage ETF Price Performance
The company’s 50 day simple moving average is $36.38 and its 200 day simple moving average is $36.16. The firm has a market cap of $250.47 million, a price-to-earnings ratio of 25.78 and a beta of 0.06.
Hedge Funds Weigh In On NYLI Merger Arbitrage ETF
A number of institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in shares of NYLI Merger Arbitrage ETF by 10.4% during the third quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after purchasing an additional 17,920 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock worth $4,008,000 after purchasing an additional 3,378 shares in the last quarter. Collaborative Fund Advisors LLC acquired a new position in shares of NYLI Merger Arbitrage ETF during the first quarter worth $2,216,000. Farther Finance Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 85.0% during the fourth quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after purchasing an additional 16,831 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of NYLI Merger Arbitrage ETF by 17.7% during the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock worth $244,000 after purchasing an additional 1,010 shares in the last quarter.
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.
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