NYLIM Merger Arbitrage ETF (NYSEARCA:MNA – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 8,953 shares, a drop of 87.9% from the September 15th total of 73,939 shares. Based on an average daily volume of 23,189 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.
NYLIM Merger Arbitrage ETF Trading Up 0.1%
Shares of NYLIM Merger Arbitrage ETF stock traded up $0.03 on Monday, reaching $36.81. The stock had a trading volume of 81,671 shares, compared to its average volume of 34,858. NYLIM Merger Arbitrage ETF has a 1 year low of $35.56 and a 1 year high of $37.19. The company has a market cap of $257.67 million, a P/E ratio of 25.78 and a beta of 0.07. The business’s 50 day moving average is $36.76 and its two-hundred day moving average is $36.54.
Institutional Investors Weigh In On NYLIM Merger Arbitrage ETF
Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of NYLIM Merger Arbitrage ETF by 17.7% in the first quarter. Parallel Advisors LLC now owns 6,718 shares of the company’s stock valued at $244,000 after acquiring 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 first quarter valued at about $2,216,000. Finally, One Capital Management LLC bought a new position in shares of NYLIM Merger Arbitrage ETF during the second quarter valued at about $6,567,000.
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.
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