NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) Hits New 52-Week High – Still a Buy?

Shares of NYLI MacKay Shields Municipal Intermediate ETF (NYSEARCA:MMIT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.65 and last traded at $24.61, with a volume of 336062 shares. The stock had previously closed at $24.60.

NYLI MacKay Shields Municipal Intermediate ETF Stock Performance

The firm has a 50-day moving average of $24.42 and a 200-day moving average of $24.26.

NYLI MacKay Shields Municipal Intermediate ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Friday, January 30th were issued a dividend of $0.0733 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, January 30th.

Institutional Investors Weigh In On NYLI MacKay Shields Municipal Intermediate ETF

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in NYLI MacKay Shields Municipal Intermediate ETF by 12.5% during the first quarter. Royal Bank of Canada now owns 97,836 shares of the company’s stock valued at $2,345,000 after buying an additional 10,902 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 128.9% during the 1st quarter. Jane Street Group LLC now owns 437,354 shares of the company’s stock worth $10,483,000 after acquiring an additional 246,326 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 15.8% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 31,248 shares of the company’s stock worth $745,000 after acquiring an additional 4,265 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in shares of NYLI MacKay Shields Municipal Intermediate ETF by 4.1% during the 2nd quarter. Axxcess Wealth Management LLC now owns 40,161 shares of the company’s stock valued at $958,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Opes Wealth Management LLC grew its holdings in shares of NYLI MacKay Shields Municipal Intermediate ETF by 9.0% in the second quarter. Opes Wealth Management LLC now owns 39,255 shares of the company’s stock valued at $936,000 after purchasing an additional 3,250 shares in the last quarter.

About NYLI MacKay Shields Municipal Intermediate ETF

The IQ MacKay Municipal Intermediate ETF (MMIT) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed to provide enhanced total-return potential by investing mainly in investment-grade, AMT-free US municipal bonds with duration between 3-10 years. MMIT was launched on Oct 18, 2017 and is managed by IndexIQ.