First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) Short Interest Up 330.1% in May

First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 45,715 shares, a growth of 330.1% from the May 14th total of 10,628 shares. Based on an average daily volume of 27,735 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.9% of the shares of the stock are sold short.

First Trust Multi-Strategy Alternative ETF Trading Up 0.0%

NYSEARCA:LALT opened at $24.39 on Friday. The company has a fifty day moving average of $24.64 and a 200 day moving average of $24.01. First Trust Multi-Strategy Alternative ETF has a 52 week low of $21.08 and a 52 week high of $25.18.

Institutional Trading of First Trust Multi-Strategy Alternative ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in First Trust Multi-Strategy Alternative ETF by 57.0% in the first quarter. Royal Bank of Canada now owns 308,314 shares of the company’s stock worth $7,494,000 after acquiring an additional 111,900 shares during the period. Cetera Investment Advisers lifted its stake in First Trust Multi-Strategy Alternative ETF by 13.1% in the first quarter. Cetera Investment Advisers now owns 85,501 shares of the company’s stock worth $2,078,000 after acquiring an additional 9,928 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in First Trust Multi-Strategy Alternative ETF in the first quarter worth $150,000. Finally, Kestra Advisory Services LLC grew its holdings in shares of 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 worth $206,000 after acquiring an additional 5,499 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.