AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 23,266 shares, an increase of 80.7% from the July 15th total of 12,874 shares. Based on an average daily volume of 12,250 shares, the short-interest ratio is currently 1.9 days. Approximately 0.7% of the shares of the company are short sold.
AltShares Merger Arbitrage ETF Stock Performance
NYSEARCA:ARB traded up $1.39 during trading hours on Tuesday, reaching $31.12. The stock had a trading volume of 600 shares, compared to its average volume of 15,794. The stock has a 50 day simple moving average of $29.63 and a 200 day simple moving average of $29.44. AltShares Merger Arbitrage ETF has a 12-month low of $28.30 and a 12-month high of $32.48. The stock has a market cap of $107.05 million, a P/E ratio of 15.96 and a beta of 0.05.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Sonoma Allocations LLC raised its stake in AltShares Merger Arbitrage ETF by 88.4% in the 4th quarter. Sonoma Allocations LLC now owns 53,294 shares of the company’s stock valued at $1,548,000 after acquiring an additional 25,010 shares during the period. Assetmark Inc. boosted its position in AltShares Merger Arbitrage ETF by 1,131.1% during the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock worth $7,782,000 after purchasing an additional 245,956 shares during the period. PFG Advisors boosted its position in AltShares Merger Arbitrage ETF by 36.8% during the fourth quarter. PFG Advisors now owns 113,051 shares of the company’s stock worth $3,286,000 after purchasing an additional 30,383 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of AltShares Merger Arbitrage ETF in the first quarter worth about $3,773,000. Finally, Dynamic Advisor Solutions LLC increased its stake in shares of AltShares Merger Arbitrage ETF by 23.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 88,589 shares of the company’s stock worth $2,625,000 after purchasing an additional 16,904 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.
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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