First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Sees Significant Drop in Short Interest

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 17,000 shares, a drop of 19.4% from the February 28th total of 21,100 shares. Based on an average trading volume of 19,200 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.5% of the company’s stock are short sold.

First Trust Alternative Absolute Return Strategy ETF Trading Down 0.2 %

Shares of NASDAQ:FAAR traded down $0.05 on Tuesday, reaching $28.87. The company had a trading volume of 5,134 shares, compared to its average volume of 26,878. First Trust Alternative Absolute Return Strategy ETF has a 52-week low of $27.42 and a 52-week high of $31.10. The firm’s 50 day simple moving average is $28.50 and its 200-day simple moving average is $28.17.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were issued a $0.1533 dividend. This represents a $0.61 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, March 27th.

Hedge Funds Weigh In On First Trust Alternative Absolute Return Strategy ETF

A number of large investors have recently made changes to their positions in the business. Tucker Asset Management LLC increased its position in First Trust Alternative Absolute Return Strategy ETF by 54.1% during the 4th quarter. Tucker Asset Management LLC now owns 2,508 shares of the company’s stock valued at $70,000 after buying an additional 880 shares in the last quarter. Concourse Financial Group Securities Inc. boosted its stake in First Trust Alternative Absolute Return Strategy ETF by 7.5% in the 4th quarter. Concourse Financial Group Securities Inc. now owns 5,452 shares of the company’s stock worth $155,000 after purchasing an additional 379 shares in the last quarter. Maripau Wealth Management LLC purchased a new stake in First Trust Alternative Absolute Return Strategy ETF during the 4th quarter worth approximately $213,000. TFB Advisors LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 26.3% during the 4th quarter. TFB Advisors LLC now owns 9,136 shares of the company’s stock valued at $256,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Richmond Investment Services LLC purchased a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the fourth quarter worth $323,000.

First Trust Alternative Absolute Return Strategy ETF Company Profile

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.