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The IQ MacKay Municipal Intermediate ETF (MMIT) seeks to provide current income exempt from federal income tax. The Fund seeks to achieve its objective by investing primarily in investment-grade municipal bonds and will also seek to enhance total return potential through its subadvisor's active management approach. The Fund may invest more than 25% of its total assets in Municipal Bonds that are related in such a way that an economic, business or political development or change affecting one such security could also affect the other securities.
IQ Mackay Municipal Intermediate ETF trades on the ARCA stock market under the symbol MMIT.
As of May 13, 2024, MMIT stock price climbed to $24.22 with 194,541 million shares trading.
MMIT has a beta of 0.16, meaning it tends to be less sensitive to market movements. MMIT has a correlation of 0.26 to the broad based SPY ETF.
MMIT has a market cap of $660.00 million. This is considered a Small Cap stock.
In the last 3 years, MMIT stock traded as high as $27.05 and as low as $23.09.
MMIT has underperformed the market in the last year with a price return of +2.4% while the SPY ETF gained +27.8%. MMIT has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.2% and +0.9%, respectively, while the SPY returned +4.3% and +2.5%, respectively.
MMIT support price is $24.13 and resistance is $24.22 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MMIT stock will trade within this expected range on the day.