2-May-2024
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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 May 2, 2024, QAI stock price climbed to $30.58 with 33,207 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 0.67 to the broad based SPY ETF.
QAI has a market cap of $553.41 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 price return of +8.5% while the SPY ETF gained +23.2%. QAI has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +1.8% and +0.7%, respectively, while the SPY returned +3.6% and +0.9%, respectively.
QAI support price is $30.34 and resistance is $30.58 (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.