NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Sees Strong Trading Volume – Still a Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) saw unusually-high trading volume on Monday . Approximately 691,565 shares changed hands during trading, an increase of 559% from the previous session’s volume of 104,991 shares.The stock last traded at $32.71 and had previously closed at $32.72.

NYLI Hedge Multi-Strategy Tracker ETF Price Performance

The firm’s 50-day moving average price is $32.25 and its 200 day moving average price is $31.59. The firm has a market capitalization of $591.87 million, a price-to-earnings ratio of 14.66 and a beta of 0.31.

Institutional Trading of NYLI Hedge Multi-Strategy Tracker ETF

Several institutional investors and hedge funds have recently made changes to their positions in QAI. Greenwood Capital Associates LLC boosted its position in NYLI Hedge Multi-Strategy Tracker ETF by 3.9% during the third quarter. Greenwood Capital Associates LLC now owns 8,632 shares of the company’s stock worth $277,000 after acquiring an additional 325 shares during the last quarter. One Capital Management LLC boosted its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 0.3% during the second quarter. One Capital Management LLC now owns 277,175 shares of the company’s stock worth $8,601,000 after purchasing an additional 764 shares during the last quarter. UP Strategic Wealth Investment Advisors LLC grew its position in shares of NYLI Hedge Multi-Strategy Tracker ETF by 8.5% in the second quarter. UP Strategic Wealth Investment Advisors LLC now owns 10,712 shares of the company’s stock valued at $332,000 after purchasing an additional 837 shares during the period. Carolinas Wealth Consulting LLC purchased a new position in NYLI Hedge Multi-Strategy Tracker ETF during the second quarter worth about $32,000. Finally, Hancock Whitney Corp boosted its stake in NYLI 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 worth $346,000 after buying an additional 1,142 shares during the last quarter.

NYLI Hedge Multi-Strategy Tracker ETF Company Profile

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.