AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Down 70.7% in June

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the target of a significant drop in short interest in the month of 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. Based on an average daily volume of 8,385 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Trading of AltShares Merger Arbitrage ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisors L.P. grew its stake in AltShares Merger Arbitrage ETF by 1.7% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 589,523 shares of the company’s stock worth $17,137,000 after purchasing an additional 9,787 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of AltShares Merger Arbitrage ETF by 2.8% during the 4th quarter. New York Life Investment Management LLC now owns 371,772 shares of the company’s stock worth $10,807,000 after buying an additional 10,118 shares in the last quarter. Assetmark Inc. grew its position in shares of AltShares Merger Arbitrage ETF by 1,131.1% during the 4th quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock worth $7,782,000 after buying an additional 245,956 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of AltShares Merger Arbitrage ETF by 1.5% during the 4th quarter. Orion Porfolio Solutions LLC now owns 185,153 shares of the company’s stock worth $5,382,000 after buying an additional 2,760 shares in the last quarter. Finally, Legend Financial Advisors Inc. increased its stake in shares of AltShares Merger Arbitrage ETF by 2.8% during the fourth quarter. Legend Financial Advisors Inc. now owns 179,800 shares of the company’s stock valued at $5,227,000 after buying an additional 4,813 shares during the period. Institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Stock Performance

Shares of ARB remained flat at $29.71 during trading hours on Monday. 15,097 shares of the stock were exchanged, compared to its average volume of 16,022. The stock has a 50-day moving average of $29.57 and a two-hundred day moving average of $29.33. The stock has a market capitalization of $104.58 million, a price-to-earnings ratio of 15.24 and a beta of 0.05. AltShares Merger Arbitrage ETF has a 1 year low of $28.30 and a 1 year high of $30.97.

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.