QAI Stock Summary and Trading Ideas (IndexIQ ETF Trust - IQ Hedge Multi-Strategy Tracker ETF | ARCA:QAI)

The IQ Hedge Multi-Strategy Tracker ETF seeks to track before fees and expenses the performance of the IQ Hedge Multi-Strategy Index. The Index attempts to replicate the risk-adjusted return characteristics of hedge funds using various hedge fund investment styles including long/short equity global macro market neutral event-driven fixed income arbitrage and emerging markets.

IndexIQ ETF Trust - IQ Hedge Multi-Strategy Tracker ETF trades on the ARCA stock market under the symbol QAI.

As of April 19, 2024, QAI stock price was flat at $30.40 with 40,779 million shares trading.

QAI has a beta of 0.30, meaning it tends to be less sensitive to market movements. QAI has a correlation of 0.65 to the broad based SPY ETF.

QAI has a market cap of $563.92 million. This is considered a Small Cap stock.

In the last 3 years, QAI stock traded as high as $32.43 and as low as $26.94.

QAI has underperformed the market in the last year with a return of +7.4%, while the SPY ETF gained +21.2%. In the last 3 month period, QAI fell short of the market, returning +1.9%, while SPY returned +4.3%. However, in the most recent 2 weeks QAI has outperformed the stock market by returning -1.3%, while SPY returned -3.5%.

QAI support price is $30.27 and resistance is $30.53 (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 QAI stock will trade within this expected range on the day.