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

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 4,561 shares, a drop of 70.7% from the June 15th total of 15,588 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 8,385 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of AltShares Merger Arbitrage ETF

Several large investors have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings 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 valued at $573,000 after purchasing an additional 377 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of 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 buying an additional 1,128 shares in the last quarter. Columbus Macro LLC raised its position in AltShares Merger Arbitrage ETF by 5.9% during the fourth quarter. Columbus Macro LLC now owns 29,353 shares of the company’s stock valued at $853,000 after buying an additional 1,635 shares during the period. Kestra Advisory Services LLC acquired a new position in AltShares Merger Arbitrage ETF during the fourth quarter valued at $50,000. Finally, Advisory Services Network LLC lifted its stake in AltShares Merger Arbitrage ETF by 3.5% in the 3rd quarter. Advisory Services Network LLC now owns 56,859 shares of the company’s stock worth $1,648,000 after acquiring an additional 1,941 shares in the last quarter. 94.63% of the stock is owned by institutional investors and hedge funds.

AltShares Merger Arbitrage ETF Price Performance

Shares of ARB stock remained flat at $29.69 during trading hours on Tuesday. 6,983 shares of the stock were exchanged, compared to its average volume of 15,955. AltShares Merger Arbitrage ETF has a twelve month low of $28.30 and a twelve month high of $30.97. The firm has a fifty day moving average of $29.57 and a two-hundred day moving average of $29.34. The firm has a market capitalization of $103.62 million, a price-to-earnings ratio of 15.23 and a beta of 0.05.

About AltShares Merger Arbitrage ETF

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.