First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) Short Interest Down 76.5% in May

First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) saw a large decline in short interest in May. As of May 15th, there was short interest totaling 10,628 shares, a decline of 76.5% from the April 30th total of 45,198 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 33,292 shares, the short-interest ratio is presently 0.3 days.

First Trust Multi-Strategy Alternative ETF Stock Performance

First Trust Multi-Strategy Alternative ETF stock traded up $0.01 during mid-day trading on Friday, reaching $24.76. The stock had a trading volume of 28,963 shares, compared to its average volume of 21,961. The company has a 50-day moving average price of $24.60 and a two-hundred day moving average price of $23.90. First Trust Multi-Strategy Alternative ETF has a one year low of $20.80 and a one year high of $25.18.

Hedge Funds Weigh In On First Trust Multi-Strategy Alternative ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC lifted its stake in First Trust Multi-Strategy Alternative ETF by 186.0% during the 1st quarter. Kestra Advisory Services LLC now owns 8,455 shares of the company’s stock valued at $206,000 after acquiring an additional 5,499 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of First Trust Multi-Strategy Alternative ETF in the 1st quarter worth approximately $150,000. Cetera Investment Advisers lifted its stake in shares of First Trust Multi-Strategy Alternative ETF by 13.1% in the 1st quarter. Cetera Investment Advisers now owns 85,501 shares of the company’s stock worth $2,078,000 after purchasing an additional 9,928 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of First Trust Multi-Strategy Alternative ETF by 57.0% in the 1st quarter. Royal Bank of Canada now owns 308,314 shares of the company’s stock worth $7,494,000 after purchasing an additional 111,900 shares during the period.

About First Trust Multi-Strategy Alternative ETF

The First Trust Multi-Strategy Alternative ETF (LALT) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund is an actively managed fund-of-funds that utilizes multiple alternative strategies in an attempt to provide lower correlation and more diversified risk exposures than traditional investments over various market cycles. LALT was launched on Jan 31, 2023 and is managed by First Trust.