NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Shares Up 0.2% – Here’s What Happened

NYLI Merger Arbitrage ETF (NYSEARCA:MNA)’s stock price shot up 0.2% during trading on Monday . The stock traded as high as $32.89 and last traded at $32.87. Approximately 26,376 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 49,195 shares. The stock had previously closed at $32.80.

NYLI Merger Arbitrage ETF Stock Performance

The stock has a market capitalization of $282.44 million, a PE ratio of 17.60 and a beta of 0.15. The business’s 50-day moving average price is $32.85 and its 200 day moving average price is $32.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank raised its position in NYLI Merger Arbitrage ETF by 1,562.1% during the first quarter. Comerica Bank now owns 1,712 shares of the company’s stock valued at $54,000 after purchasing an additional 1,609 shares in the last quarter. HBW Advisory Services LLC purchased a new position in shares of NYLI Merger Arbitrage ETF during the 3rd quarter valued at about $113,000. Centaurus Financial Inc. purchased a new position in shares of NYLI Merger Arbitrage ETF during the 2nd quarter valued at about $112,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in NYLI Merger Arbitrage ETF in the 2nd quarter worth approximately $168,000. Finally, Flow Traders U.S. LLC purchased a new stake in NYLI Merger Arbitrage ETF in the third quarter worth approximately $220,000.

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.