Envestnet Asset Management Inc. boosted its stake in IQ Merger Arbitrage ETF (NYSEARCA:MNA – Free Report) by 16.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 509,796 shares of the company’s stock after acquiring an additional 73,428 shares during the period. Envestnet Asset Management Inc. owned 3.47% of IQ Merger Arbitrage ETF worth $16,125,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in IQ Merger Arbitrage ETF by 16.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 924,823 shares of the company’s stock valued at $29,345,000 after acquiring an additional 132,966 shares during the period. Morgan Stanley increased its position in IQ Merger Arbitrage ETF by 1.1% during the 4th quarter. Morgan Stanley now owns 861,936 shares of the company’s stock worth $27,349,000 after purchasing an additional 9,248 shares during the period. The Manufacturers Life Insurance Company increased its position in IQ Merger Arbitrage ETF by 14.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 676,631 shares of the company’s stock worth $21,612,000 after purchasing an additional 84,906 shares during the period. Wealthcare Advisory Partners LLC increased its position in IQ Merger Arbitrage ETF by 6.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 531,115 shares of the company’s stock worth $16,852,000 after purchasing an additional 32,274 shares during the period. Finally, LPL Financial LLC increased its position in IQ Merger Arbitrage ETF by 54.5% during the 4th quarter. LPL Financial LLC now owns 480,509 shares of the company’s stock worth $15,247,000 after purchasing an additional 169,539 shares during the period.
IQ Merger Arbitrage ETF Trading Up 0.7 %
NYSEARCA MNA opened at $31.65 on Friday. The business’s 50 day moving average is $31.33 and its two-hundred day moving average is $31.35. IQ Merger Arbitrage ETF has a 12-month low of $30.08 and a 12-month high of $32.16. The stock has a market capitalization of $481.08 million, a price-to-earnings ratio of 20.02 and a beta of 0.13.
IQ 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.
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