Micro-positioning stages fabricated using Micro Electro Mechanical Systems (MEMS) based processes have been critical in enabling micro/nano manipulation and probing. These stages have been extensively used in micro-force sensors, scanning probe microscopy and micro optical lens scanners. This paper presents the design, kinematic and dynamic analysis, fabrication and characterization of a novel monolithic micro-positioning XY stage. The design of the proposed micro-positioning stage is based on a Parallel Kinematic Mechanism (PKM). The PKM based design decouples the motion in the XY direction. Additionally, it restricts the parasitic rotation of the end-effector (table) of the micro-positioning stage while providing an increased motion range. The motion of the stage is linear in the operating range thus simplifying its kinematics. The truss like parallel kinematic mechanism design of the stage structure reduces its mass while keeping the stage stiffness high. This leads to a high natural frequency of the micro-positioning stage (1250Hz) and a high Q-factor of 156. The stage mechanism is fabricated on a Silicon-On-Insulator (SOI) substrate and is actuated by integrated electrostatic rotary comb drives. The fabrication process uses multi-layer patterning along with an Inductively Coupled Plasma Deep Reactive Ion Etching (ICP-DRIE). The use of ICP-DRIE enables the high aspect ratio etching that is required for the stage fabrication and its optimal actuation using the integrated electrostatic rotary comb drives. The fabricated stages have a motion range of more than 30 microns of decoupled displacements along the X and Y directions at a driving voltage of 200V.