IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Hits New 52-Week High at $31.63

Shares of IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) hit a new 52-week high during trading on Monday . The stock traded as high as $31.63 and last traded at $31.62, with a volume of 17250 shares. The stock had previously closed at $31.60.

IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF Price Performance

The firm has a market capitalization of $572.87 million, a price-to-earnings ratio of 14.66 and a beta of 0.31. The stock has a 50 day moving average price of $31.25 and a two-hundred day moving average price of $30.96.

Hedge Funds Weigh In On IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC grew its stake in shares of IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF by 332.3% during the second quarter. EP Wealth Advisors LLC now owns 758,377 shares of the company’s stock worth $23,532,000 after purchasing an additional 582,961 shares in the last quarter. Hancock Whitney Corp increased its holdings in shares of IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF by 11.4% in the 2nd quarter. Hancock Whitney Corp now owns 11,148 shares of the company’s stock valued at $346,000 after acquiring an additional 1,142 shares during the last quarter. UP Strategic Wealth Investment Advisors LLC raised its position in shares of IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF by 8.5% during the 2nd quarter. UP Strategic Wealth Investment Advisors LLC now owns 10,712 shares of the company’s stock worth $332,000 after acquiring an additional 837 shares in the last quarter. Carolinas Wealth Consulting LLC purchased a new stake in IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF during the second quarter worth approximately $32,000. Finally, One Capital Management LLC boosted its holdings in IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF by 0.3% in the second quarter. One Capital Management LLC now owns 277,175 shares of the company’s stock valued at $8,601,000 after purchasing an additional 764 shares in the last quarter.

About IndexIQ ETF Trust – IQ Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.