NYLI Merger Arbitrage ETF (NYSEARCA:MNA) Stock Price Up 0.2% – Still a Buy?

Posted by Donald Scott on Nov 26th, 2024

NYLI Merger Arbitrage ETF (NYSEARCA:MNA – Get Free Report)’s share price was up 0.2% during mid-day trading on Monday . The company traded as high as $32.89 and last traded at $32.87. Approximately 26,376 shares were traded during 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 business’s 50 day simple moving average is $32.86 and its 200-day simple moving average is $32.22. The stock has a market capitalization of $282.66 million, a price-to-earnings ratio of 17.60 and a beta of 0.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MNA. B. Riley Wealth Advisors Inc. lifted its stake in shares of NYLI Merger Arbitrage ETF by 69.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 473,974 shares of the company’s stock worth $14,973,000 after acquiring an additional 194,374 shares during the period. Comerica Bank lifted its stake in shares of NYLI Merger Arbitrage ETF by 1,562.1% in the 1st quarter. Comerica Bank now owns 1,712 shares of the company’s stock worth $54,000 after acquiring an additional 1,609 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of NYLI Merger Arbitrage ETF in the 2nd quarter worth approximately $168,000. Diversify Advisory Services LLC acquired a new stake in shares of NYLI Merger Arbitrage ETF in the 2nd quarter worth approximately $214,000. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its stake in shares of NYLI Merger Arbitrage ETF by 8.8% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 65,532 shares of the company’s stock worth $2,071,000 after acquiring an additional 5,274 shares during the period.

NYLI Merger Arbitrage ETF Company Profile

(Get Free Report)

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.