AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 6,795 shares, a decrease of 70.8% from the July 30th total of 23,266 shares. Based on an average daily volume of 21,821 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.
Institutional Trading of AltShares Merger Arbitrage ETF
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in AltShares Merger Arbitrage ETF during the 4th quarter worth $50,000. Royal Bank of Canada lifted its holdings in AltShares Merger Arbitrage ETF by 66.9% in the first quarter. Royal Bank of Canada now owns 6,656 shares of the company’s stock valued at $196,000 after buying an additional 2,667 shares during the period. Prosperity Bancshares Inc bought a new position in AltShares Merger Arbitrage ETF in the fourth quarter valued at approximately $262,000. Jane Street Group LLC acquired a new position in AltShares Merger Arbitrage ETF in the second quarter valued at about $363,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of AltShares Merger Arbitrage ETF in the 1st quarter valued at approximately $549,000. Institutional investors and hedge funds own 94.63% of the company’s stock.
AltShares Merger Arbitrage ETF Trading Up 0.2%
ARB stock traded up $0.05 during trading on Thursday, hitting $29.81. 3,296 shares of the stock traded hands, compared to its average volume of 15,519. The stock has a market cap of $102.55 million, a price-to-earnings ratio of 15.29 and a beta of 0.05. The company has a 50 day simple moving average of $29.65 and a 200 day simple moving average of $29.48. AltShares Merger Arbitrage ETF has a one year low of $28.30 and a one year high of $32.48.
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.
Featured Articles
- Five stocks we like better than AltShares Merger Arbitrage ETF
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for AltShares Merger Arbitrage ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AltShares Merger Arbitrage ETF and related companies with MarketBeat.com's FREE daily email newsletter.
