Harbour Investments Inc. Raises Position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Harbour Investments Inc. grew its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 104,630 shares of the company’s stock after buying an additional 5,138 shares during the period. Harbour Investments Inc. owned approximately 4.01% of AltShares Merger Arbitrage ETF worth $2,880,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its holdings in shares of AltShares Merger Arbitrage ETF by 22.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,446 shares of the company’s stock valued at $370,000 after purchasing an additional 2,470 shares during the last quarter. PFG Advisors raised its holdings in shares of AltShares Merger Arbitrage ETF by 10.5% during the fourth quarter. PFG Advisors now owns 49,483 shares of the company’s stock valued at $1,362,000 after purchasing an additional 4,698 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of AltShares Merger Arbitrage ETF by 1.4% during the fourth quarter. HighTower Advisors LLC now owns 94,524 shares of the company’s stock valued at $2,602,000 after purchasing an additional 1,276 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of AltShares Merger Arbitrage ETF by 68.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,856 shares of the company’s stock valued at $161,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of AltShares Merger Arbitrage ETF during the fourth quarter valued at approximately $233,000.

AltShares Merger Arbitrage ETF Price Performance

ARB opened at $28.14 on Monday. The firm has a 50 day moving average price of $27.99 and a 200-day moving average price of $27.85. The stock has a market capitalization of $80.48 million, a price-to-earnings ratio of 17.48 and a beta of 0.09. AltShares Merger Arbitrage ETF has a twelve month low of $25.81 and a twelve month high of $28.49.

AltShares Merger Arbitrage ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 18th were given a dividend of $0.3092 per share. The ex-dividend date was Wednesday, December 18th.

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.