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

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

Institutional Trading of First Trust Multi-Strategy Alternative ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC acquired a new stake in shares of First Trust Multi-Strategy Alternative ETF in the first quarter worth $150,000. Kestra Advisory Services LLC boosted its position in shares of First Trust Multi-Strategy Alternative ETF by 186.0% in the first quarter. Kestra Advisory Services LLC now owns 8,455 shares of the company’s stock worth $206,000 after buying an additional 5,499 shares during the period. Cetera Investment Advisers boosted its position in shares of 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 buying an additional 9,928 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of 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 buying an additional 111,900 shares during the period.

First Trust Multi-Strategy Alternative ETF Price Performance

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

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.