AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Get Free Report) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 4,561 shares, a decline of 70.7% from the June 15th total of 15,588 shares. Based on an average daily trading volume, of 8,385 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the shares of the company are sold short.
Institutional Trading of AltShares Merger Arbitrage ETF
A number of hedge funds have recently bought and sold shares of ARB. Diversify Advisory Services LLC grew its position in AltShares Merger Arbitrage ETF by 76.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after purchasing an additional 47,879 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AltShares Merger Arbitrage ETF during the second quarter valued at about $2,800,000. Jane Street Group LLC acquired a new position in shares of AltShares Merger Arbitrage ETF during the second quarter valued at about $363,000. Advisory Services Network LLC bought a new stake in shares of AltShares Merger Arbitrage ETF in the second quarter valued at about $1,580,000. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of AltShares Merger Arbitrage ETF by 13.5% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 64,297 shares of the company’s stock valued at $1,869,000 after buying an additional 7,654 shares during the period. 94.63% of the stock is owned by institutional investors.
AltShares Merger Arbitrage ETF Stock Performance
Shares of ARB traded down $0.15 during mid-day trading on Friday, hitting $29.71. The company’s stock had a trading volume of 5,765 shares, compared to its average volume of 16,030. The stock’s 50-day moving average is $29.57 and its two-hundred day moving average is $29.33. The firm has a market capitalization of $104.58 million, a PE ratio of 15.24 and a beta of 0.05. AltShares Merger Arbitrage ETF has a one year low of $28.30 and a one year high of $30.97.
AltShares Merger Arbitrage ETF Company Profile
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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