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

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

NYLI Merger Arbitrage ETF Stock Performance

The stock has a market cap of $283.63 million, a PE ratio of 17.60 and a beta of 0.15. The company has a 50 day moving average of $32.85 and a two-hundred day moving average of $32.51.

Hedge Funds Weigh In On NYLI Merger Arbitrage ETF

A number of large investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. acquired a new position in shares of NYLI Merger Arbitrage ETF during the second quarter valued at approximately $112,000. HBW Advisory Services LLC purchased a new stake in shares of NYLI Merger Arbitrage ETF during the third quarter worth approximately $113,000. Flow Traders U.S. LLC acquired a new position in NYLI Merger Arbitrage ETF in the 3rd quarter valued at $220,000. Duncan Williams Asset Management LLC purchased a new position in NYLI Merger Arbitrage ETF in the 3rd quarter valued at $546,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in NYLI Merger Arbitrage ETF by 17.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 236,656 shares of the company’s stock worth $7,478,000 after purchasing an additional 34,727 shares during the last quarter.

NYLI Merger Arbitrage ETF Company Profile

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.