NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Trading Down 0.2% – Should You Sell?

NYLI Merger Arbitrage ETF (NYSEARCA:MNA)’s share price was down 0.2% on Monday . The stock traded as low as $32.88 and last traded at $32.98. Approximately 107,393 shares were traded during trading, an increase of 132% from the average daily volume of 46,312 shares. The stock had previously closed at $33.04.

NYLI Merger Arbitrage ETF Stock Down 0.2 %

The firm has a market capitalization of $283.63 million, a PE ratio of 17.60 and a beta of 0.15. The business has a 50-day moving average price of $32.85 and a 200-day moving average price of $32.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. HBW Advisory Services LLC purchased a new position in NYLI Merger Arbitrage ETF during the third quarter worth about $113,000. Centaurus Financial Inc. acquired a new position in NYLI Merger Arbitrage ETF in the second quarter valued at approximately $112,000. Flow Traders U.S. LLC purchased a new position in NYLI Merger Arbitrage ETF in the third quarter worth approximately $220,000. Duncan Williams Asset Management LLC purchased a new position in NYLI Merger Arbitrage ETF in the third quarter worth approximately $546,000. Finally, Oppenheimer Asset Management Inc. raised its position in NYLI Merger Arbitrage ETF by 17.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 236,656 shares of the company’s stock valued at $7,478,000 after purchasing an additional 34,727 shares during the period.

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.