NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) Reaches New 52-Week High – Time to Buy?

NYLI Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $32.44 and last traded at $32.44, with a volume of 1858 shares changing hands. The stock had previously closed at $32.40.

NYLI Hedge Multi-Strategy Tracker ETF Price Performance

The business’s fifty day moving average price is $32.10 and its 200-day moving average price is $31.46. The stock has a market capitalization of $588.97 million, a price-to-earnings ratio of 14.66 and a beta of 0.31.

Hedge Funds Weigh In On NYLI Hedge Multi-Strategy Tracker ETF

Hedge funds have recently added to or reduced their stakes in the stock. Pitcairn Co. lifted its holdings in shares of NYLI Hedge Multi-Strategy Tracker ETF by 46.9% in the third quarter. Pitcairn Co. now owns 1,602,027 shares of the company’s stock valued at $51,393,000 after purchasing an additional 511,219 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in NYLI Hedge Multi-Strategy Tracker ETF by 332.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 758,377 shares of the company’s stock valued at $23,532,000 after acquiring an additional 582,961 shares in the last quarter. HTLF Bank boosted its holdings in NYLI Hedge Multi-Strategy Tracker ETF by 0.8% during the 2nd quarter. HTLF Bank now owns 693,202 shares of the company’s stock worth $21,510,000 after acquiring an additional 5,324 shares during the last quarter. Alaska Permanent Capital Management boosted its holdings in NYLI Hedge Multi-Strategy Tracker ETF by 1.1% during the 3rd quarter. Alaska Permanent Capital Management now owns 653,523 shares of the company’s stock worth $20,953,000 after acquiring an additional 7,113 shares during the last quarter. Finally, Alaska Wealth Advisors grew its stake in shares of NYLI Hedge Multi-Strategy Tracker ETF by 0.5% in the 2nd quarter. Alaska Wealth Advisors now owns 647,287 shares of the company’s stock worth $20,085,000 after acquiring an additional 3,075 shares in the last quarter.

About NYLI Hedge Multi-Strategy Tracker ETF

The IQ Hedge Multi-Strategy Tracker ETF (QAI) is an exchange-traded fund that is based on the IQ Hedge Multi-Strategy index. The fund tracks an index that aims to emulate hedge fund returns across different strategies, primarily by holding other ETFs. QAI was launched on Mar 25, 2009 and is managed by IndexIQ.