Envestnet Portfolio Solutions Inc. Trims Holdings in First Trust Alternative Absolute Return Strategy ETF $FAAR

Envestnet Portfolio Solutions Inc. trimmed its position in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) by 45.2% during the second quarter, Holdings Channel.com reports. The firm owned 19,149 shares of the company’s stock after selling 15,765 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in First Trust Alternative Absolute Return Strategy ETF were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FAAR. Janney Montgomery Scott LLC lifted its holdings in First Trust Alternative Absolute Return Strategy ETF by 46.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,976 shares of the company’s stock valued at $607,000 after purchasing an additional 6,631 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in First Trust Alternative Absolute Return Strategy ETF by 2.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 63,720 shares of the company’s stock valued at $1,843,000 after purchasing an additional 1,744 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF in the 1st quarter valued at about $604,000. Rossby Financial LCC purchased a new position in First Trust Alternative Absolute Return Strategy ETF in the 1st quarter valued at about $59,000. Finally, World Investment Advisors lifted its holdings in First Trust Alternative Absolute Return Strategy ETF by 78.6% in the 1st quarter. World Investment Advisors now owns 29,842 shares of the company’s stock valued at $863,000 after purchasing an additional 13,131 shares in the last quarter.

First Trust Alternative Absolute Return Strategy ETF Stock Down 0.3%

NASDAQ FAAR opened at $30.06 on Wednesday. First Trust Alternative Absolute Return Strategy ETF has a 12 month low of $25.19 and a 12 month high of $32.19. The company has a 50-day moving average of $30.03 and a 200-day moving average of $28.37.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were paid a dividend of $0.1759 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.18.

First Trust Alternative Absolute Return Strategy ETF Company Profile

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.