IQ Merger Arbitrage ETF (NYSEARCA:MNA) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its position in shares of IQ Merger Arbitrage ETF (NYSEARCA:MNA) by 53.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,701 shares of the company’s stock after selling 252,273 shares during the quarter. B. Riley Wealth Advisors Inc. owned 2.58% of IQ Merger Arbitrage ETF worth $7,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York Life Investment Management LLC grew its position in IQ Merger Arbitrage ETF by 20.6% during the second quarter. New York Life Investment Management LLC now owns 1,076,145 shares of the company’s stock worth $34,006,000 after buying an additional 184,022 shares during the period. SageView Advisory Group LLC grew its position in IQ Merger Arbitrage ETF by 1,344.3% during the fourth quarter. SageView Advisory Group LLC now owns 459,813 shares of the company’s stock worth $14,443,000 after buying an additional 427,976 shares during the period. Envestnet Asset Management Inc. grew its position in IQ Merger Arbitrage ETF by 18.8% during the second quarter. Envestnet Asset Management Inc. now owns 308,669 shares of the company’s stock worth $9,754,000 after buying an additional 48,804 shares during the period. Oppenheimer Asset Management Inc. grew its position in IQ Merger Arbitrage ETF by 17.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 236,656 shares of the company’s stock worth $7,478,000 after buying an additional 34,727 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in IQ Merger Arbitrage ETF by 8.8% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 65,532 shares of the company’s stock worth $2,071,000 after buying an additional 5,274 shares during the period.

IQ Merger Arbitrage ETF Trading Down 0.2 %

Shares of MNA opened at $32.88 on Tuesday. The firm’s 50-day moving average is $32.57 and its two-hundred day moving average is $31.75. IQ Merger Arbitrage ETF has a twelve month low of $30.36 and a twelve month high of $33.06. The firm has a market capitalization of $282.77 million, a P/E ratio of 17.60 and a beta of 0.15.

IQ Merger Arbitrage ETF 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.