NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Sees Significant Decrease in Short Interest
by Tristan Rich · The Markets DailyNYLI Merger Arbitrage ETF (NYSEARCA:MNA – Get Free Report) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 8,367 shares, a drop of 90.7% from the February 26th total of 90,421 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 34,789 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 34,789 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.
NYLI Merger Arbitrage ETF Stock Down 0.0%
Shares of NYSEARCA:MNA traded down $0.01 during midday trading on Wednesday, hitting $36.38. 20,988 shares of the stock traded hands, compared to its average volume of 34,731. The business’s 50 day moving average is $36.20 and its two-hundred day moving average is $35.96. The stock has a market capitalization of $254.66 million, a PE ratio of 25.78 and a beta of 0.06. NYLI Merger Arbitrage ETF has a one year low of $33.40 and a one year high of $36.73.
Institutional Investors Weigh In On NYLI Merger Arbitrage ETF
Several hedge funds have recently made changes to their positions in MNA. Ameriprise Financial Inc. lifted its stake in shares of NYLI Merger Arbitrage ETF by 10.4% in the third quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock worth $6,807,000 after buying an additional 17,920 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in NYLI Merger Arbitrage ETF by 3.1% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 111,993 shares of the company’s stock worth $4,008,000 after acquiring an additional 3,378 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in NYLI Merger Arbitrage ETF by 85.0% in the 4th quarter. Farther Finance Advisors LLC now owns 36,622 shares of the company’s stock worth $1,311,000 after acquiring an additional 16,831 shares during the last quarter. Worth Asset Management LLC bought a new position in NYLI Merger Arbitrage ETF in the 3rd quarter valued at approximately $363,000. Finally, Parallel Advisors LLC lifted its position in NYLI Merger Arbitrage ETF by 3,467.5% in the 4th quarter. Parallel Advisors LLC now owns 5,708 shares of the company’s stock valued at $204,000 after acquiring an additional 5,548 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.