First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT – Get Free Report) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 45,198 shares, a growth of 156.1% from the April 15th total of 17,647 shares. Based on an average daily volume of 39,173 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.8% of the shares of the company are short sold.
First Trust Multi-Strategy Alternative ETF Stock Down 0.1%
Shares of LALT stock traded down $0.02 during trading hours on Friday, reaching $24.81. The stock had a trading volume of 31,598 shares, compared to its average volume of 21,408. First Trust Multi-Strategy Alternative ETF has a twelve month low of $20.80 and a twelve month high of $25.18. The firm has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $23.77.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its position in shares of First Trust Multi-Strategy Alternative ETF by 186.0% during the 1st quarter. Kestra Advisory Services LLC now owns 8,455 shares of the company’s stock valued at $206,000 after purchasing an additional 5,499 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of First Trust Multi-Strategy Alternative ETF in the first quarter valued at $150,000. Finally, Cetera Investment Advisers raised its holdings in shares of First Trust Multi-Strategy Alternative ETF by 13.1% in the 1st quarter. Cetera Investment Advisers now owns 85,501 shares of the company’s stock worth $2,078,000 after purchasing an additional 9,928 shares in the last quarter.
About First Trust Multi-Strategy Alternative ETF
The First Trust Multi-Strategy Alternative ETF (LALT) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund is an actively managed fund-of-funds that utilizes multiple alternative strategies in an attempt to provide lower correlation and more diversified risk exposures than traditional investments over various market cycles. LALT was launched on Jan 31, 2023 and is managed by First Trust.
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