First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Short Interest Update

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) saw a significant drop in short interest in March. As of March 13th, there was short interest totaling 11,065 shares, a drop of 48.6% from the February 26th total of 21,523 shares. Based on an average daily volume of 7,735 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.6% of the company’s stock are short sold.

First Trust Merger Arbitrage ETF Trading Up 0.4%

Shares of NYSEARCA:MARB traded up $0.09 during mid-day trading on Thursday, hitting $20.73. 1,429 shares of the company traded hands, compared to its average volume of 17,327. The stock has a 50-day moving average price of $20.70 and a two-hundred day moving average price of $20.61. First Trust Merger Arbitrage ETF has a 12-month low of $19.56 and a 12-month high of $22.33. The stock has a market cap of $39.39 million, a P/E ratio of 20.69 and a beta of 0.03.

Hedge Funds Weigh In On First Trust Merger Arbitrage ETF

Hedge funds have recently bought and sold shares of the company. LPL Financial LLC grew its stake in shares of First Trust Merger Arbitrage ETF by 13.1% in the 4th quarter. LPL Financial LLC now owns 295,464 shares of the company’s stock worth $6,098,000 after acquiring an additional 34,208 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in First Trust Merger Arbitrage ETF by 36.4% during the second quarter. Coppell Advisory Solutions LLC now owns 110,466 shares of the company’s stock worth $2,249,000 after purchasing an additional 29,464 shares during the last quarter. Assetmark Inc. grew its position in First Trust Merger Arbitrage ETF by 65.6% in the 4th quarter. Assetmark Inc. now owns 106,302 shares of the company’s stock worth $2,194,000 after purchasing an additional 42,126 shares in the last quarter. First Trust Advisors LP grew its position in First Trust Merger Arbitrage ETF by 26.0% in the 4th quarter. First Trust Advisors LP now owns 80,930 shares of the company’s stock worth $1,670,000 after purchasing an additional 16,721 shares in the last quarter. Finally, BCGM Wealth Management LLC increased its stake in First Trust Merger Arbitrage ETF by 1.8% in the 4th quarter. BCGM Wealth Management LLC now owns 68,580 shares of the company’s stock valued at $1,415,000 after buying an additional 1,237 shares during the last quarter.

First Trust Merger Arbitrage ETF Company Profile

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.