AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 23,266 shares, an increase of 80.7% from the July 15th total of 12,874 shares. Based on an average daily volume of 12,250 shares, the short-interest ratio is presently 1.9 days. Currently, 0.7% of the company’s stock are sold short.
AltShares Merger Arbitrage ETF Stock Down 0.1%
ARB stock traded down $0.03 during midday trading on Monday, reaching $29.73. 4,575 shares of the company’s stock traded hands, compared to its average volume of 15,892. The firm’s fifty day moving average price is $29.62 and its 200-day moving average price is $29.44. The company has a market cap of $102.27 million, a price-to-earnings ratio of 15.25 and a beta of 0.05. AltShares Merger Arbitrage ETF has a 52 week low of $28.30 and a 52 week high of $32.48.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Diversify Advisory Services LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 76.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after buying an additional 47,879 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of AltShares Merger Arbitrage ETF during the 2nd quarter valued at $2,800,000. Jane Street Group LLC bought a new position in shares of AltShares Merger Arbitrage ETF in the second quarter valued at approximately $363,000. Advisory Services Network LLC bought a new position in AltShares Merger Arbitrage ETF in the 2nd quarter valued at $1,580,000. Finally, Assetmark Inc. boosted its stake in AltShares Merger Arbitrage ETF by 1,131.1% during the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after buying an additional 245,956 shares during the period. 94.63% of the stock is owned by institutional investors.
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.
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