AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Update

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 15,009 shares, a decline of 70.9% from the April 30th total of 51,559 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 21,421 shares, the days-to-cover ratio is presently 0.7 days.

AltShares Merger Arbitrage ETF Stock Performance

Shares of NYSEARCA ARB opened at $29.57 on Friday. The stock has a market cap of $99.95 million, a PE ratio of 15.16 and a beta of 0.05. AltShares Merger Arbitrage ETF has a fifty-two week low of $27.55 and a fifty-two week high of $30.26. The stock has a fifty day moving average of $29.43 and a 200-day moving average of $29.21.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC raised its position in shares of AltShares Merger Arbitrage ETF by 2.0% in the fourth quarter. LPL Financial LLC now owns 19,704 shares of the company’s stock worth $573,000 after buying an additional 377 shares in the last quarter. Legend Financial Advisors Inc. raised its position in shares of AltShares Merger Arbitrage ETF by 0.3% in the third quarter. Legend Financial Advisors Inc. now owns 174,987 shares of the company’s stock worth $5,073,000 after buying an additional 551 shares in the last quarter. Diversify Advisory Services LLC raised its position in shares of AltShares Merger Arbitrage ETF by 0.8% in the third quarter. Diversify Advisory Services LLC now owns 111,094 shares of the company’s stock worth $3,224,000 after buying an additional 899 shares in the last quarter. Bank of America Corp DE raised its position in AltShares Merger Arbitrage ETF by 4.0% during the first quarter. Bank of America Corp DE now owns 29,637 shares of the company’s stock valued at $869,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in AltShares Merger Arbitrage ETF by 0.9% during the third quarter. Orion Porfolio Solutions LLC now owns 182,393 shares of the company’s stock valued at $5,288,000 after purchasing an additional 1,620 shares in the last quarter. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

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.