Sonoma Allocations LLC grew its holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Free Report) by 88.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,294 shares of the company’s stock after purchasing an additional 25,010 shares during the period. Sonoma Allocations LLC owned about 1.51% of AltShares Merger Arbitrage ETF worth $1,548,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in ARB. Assetmark Inc. grew its position in AltShares Merger Arbitrage ETF by 1,131.1% in the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after purchasing an additional 245,956 shares in the last quarter. PFG Advisors lifted its position in AltShares Merger Arbitrage ETF by 36.8% during the 4th quarter. PFG Advisors now owns 113,051 shares of the company’s stock worth $3,286,000 after buying an additional 30,383 shares in the last quarter. HighTower Advisors LLC lifted its position in AltShares Merger Arbitrage ETF by 9.0% during the 4th quarter. HighTower Advisors LLC now owns 130,375 shares of the company’s stock worth $3,790,000 after buying an additional 10,798 shares in the last quarter. New York Life Investment Management LLC boosted its stake in shares of AltShares Merger Arbitrage ETF by 2.8% during the 4th quarter. New York Life Investment Management LLC now owns 371,772 shares of the company’s stock worth $10,807,000 after buying an additional 10,118 shares during the last quarter. Finally, Legend Financial Advisors Inc. boosted its stake in shares of AltShares Merger Arbitrage ETF by 2.8% during the 4th quarter. Legend Financial Advisors Inc. now owns 179,800 shares of the company’s stock worth $5,227,000 after buying an additional 4,813 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.
AltShares Merger Arbitrage ETF Price Performance
Shares of NYSEARCA ARB opened at $29.58 on Friday. The stock has a market capitalization of $99.98 million, a price-to-earnings ratio of 15.17 and a beta of 0.05. The business has a 50-day moving average of $29.52 and a 200-day moving average of $29.27. AltShares Merger Arbitrage ETF has a fifty-two week low of $27.55 and a fifty-two week high of $30.97.
About AltShares Merger Arbitrage ETF
The AltShares Merger Arbitrage ETF (ARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund tracks a global USD-hedged index that uses a merger arbitrage strategy by providing long exposure to takeover targets and short exposure the acquiring company. ARB was launched on May 7, 2020 and is managed by Altshares.
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