Legend Financial Advisors Inc. Boosts Stock Position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Legend Financial Advisors Inc. grew its holdings in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,666 shares of the company’s stock after buying an additional 3,214 shares during the quarter. AltShares Merger Arbitrage ETF accounts for about 3.1% of Legend Financial Advisors Inc.’s investment portfolio, making the stock its 13th largest holding. Legend Financial Advisors Inc. owned about 6.16% of AltShares Merger Arbitrage ETF worth $4,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Dynamic Advisor Solutions LLC bought a new position in AltShares Merger Arbitrage ETF during the 3rd quarter valued at $303,000. PFG Advisors grew its stake in 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 holdings in AltShares Merger Arbitrage ETF by 5.1% in the third quarter. Atria Investments Inc now owns 30,045 shares of the company’s stock valued at $833,000 after buying an additional 1,461 shares during the last quarter. Diversify Advisory Services LLC raised its stake in AltShares Merger Arbitrage ETF by 3.7% during the third quarter. Diversify Advisory Services LLC now owns 63,026 shares of the company’s stock valued at $1,759,000 after buying an additional 2,239 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in AltShares Merger Arbitrage ETF by 1.8% during the third quarter. HighTower Advisors LLC now owns 93,248 shares of the company’s stock valued at $2,570,000 after buying an additional 1,666 shares in the last quarter.

AltShares Merger Arbitrage ETF Stock Down 0.1 %

Shares of ARB traded down $0.02 during mid-day trading on Tuesday, hitting $27.72. The stock had a trading volume of 42,718 shares, compared to its average volume of 22,654. The company has a market cap of $72.35 million, a PE ratio of 17.48 and a beta of 0.08. AltShares Merger Arbitrage ETF has a fifty-two week low of $25.81 and a fifty-two week high of $28.30. The company’s fifty day simple moving average is $27.77 and its two-hundred day simple moving average is $27.59.

AltShares Merger Arbitrage ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.3092 per share. The ex-dividend date of this dividend was Wednesday, December 18th.

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.