NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Trading 0.2% Higher – Here’s Why

NYLI Merger Arbitrage ETF (NYSEARCA:MNA)’s share price traded up 0.2% during mid-day trading on Friday . The company traded as high as $36.02 and last traded at $35.87. 20,603 shares were traded during mid-day trading, a decline of 40% from the average session volume of 34,572 shares. The stock had previously closed at $35.79.

NYLI Merger Arbitrage ETF Stock Up 0.2%

The firm has a market capitalization of $254.68 million, a price-to-earnings ratio of 25.78 and a beta of 0.06. The stock has a 50 day moving average of $35.83 and a 200 day moving average of $35.65.

Institutional Investors Weigh In On NYLI Merger Arbitrage ETF

A number of institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of NYLI Merger Arbitrage ETF by 10.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 189,723 shares of the company’s stock valued at $6,807,000 after acquiring an additional 17,920 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in NYLI Merger Arbitrage ETF by 72.9% in the third quarter. Kingswood Wealth Advisors LLC now owns 108,615 shares of the company’s stock worth $3,899,000 after purchasing an additional 45,792 shares during the period. Worth Asset Management LLC bought a new stake in NYLI Merger Arbitrage ETF during the third quarter valued at $363,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of NYLI Merger Arbitrage ETF during the second quarter worth $205,000.

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.