Harbour Investments Inc. Increases Stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Harbour Investments Inc. raised its holdings in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,492 shares of the company’s stock after buying an additional 22,296 shares during the period. Harbour Investments Inc. owned about 3.81% of AltShares Merger Arbitrage ETF worth $2,758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in AltShares Merger Arbitrage ETF during the second quarter valued at approximately $227,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF in the third quarter worth $303,000. PFG Advisors increased its stake in shares of AltShares Merger Arbitrage ETF by 28.8% in the second quarter. PFG Advisors now owns 29,734 shares of the company’s stock worth $800,000 after purchasing an additional 6,655 shares in the last quarter. Atria Investments Inc increased its stake in shares of AltShares Merger Arbitrage ETF by 5.1% in the third quarter. Atria Investments Inc now owns 30,045 shares of the company’s stock worth $833,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its stake in shares of AltShares Merger Arbitrage ETF by 2.0% in the second quarter. Diversify Advisory Services LLC now owns 60,787 shares of the company’s stock worth $1,643,000 after purchasing an additional 1,211 shares in the last quarter.

AltShares Merger Arbitrage ETF Price Performance

Shares of NYSEARCA ARB opened at $27.87 on Wednesday. The firm has a fifty day moving average price of $27.82 and a 200-day moving average price of $27.35. The stock has a market cap of $72.75 million, a PE ratio of 17.48 and a beta of 0.08. AltShares Merger Arbitrage ETF has a 1 year low of $25.81 and a 1 year high of $28.30.

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.