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

NYLI Merger Arbitrage ETF (NYSEARCA:MNA)’s share price was up 0.2% on Monday . The company traded as high as $32.89 and last traded at $32.87. Approximately 26,376 shares changed hands 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 firm has a market capitalization of $282.44 million, a PE ratio of 17.60 and a beta of 0.15. The stock has a fifty day moving average price of $32.85 and a 200-day moving average price of $32.24.

Hedge Funds Weigh In On NYLI Merger Arbitrage ETF

A number of large investors have recently made changes to their positions in MNA. Comerica Bank increased its holdings in shares of 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 acquiring an additional 1,609 shares in the last quarter. HBW Advisory Services LLC acquired a new stake in NYLI Merger Arbitrage ETF in the 3rd quarter worth approximately $113,000. Centaurus Financial Inc. purchased a new stake in NYLI Merger Arbitrage ETF during the 2nd quarter worth approximately $112,000. Cantor Fitzgerald Investment Advisors L.P. increased its stake in NYLI Merger Arbitrage ETF by 8.8% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 65,532 shares of the company’s stock valued at $2,071,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of NYLI Merger Arbitrage ETF in the second quarter worth $168,000.

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.