AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Down 70.8% in August

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 6,795 shares, a drop of 70.8% from the July 30th total of 23,266 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 21,821 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in shares of AltShares Merger Arbitrage ETF during the 4th quarter worth about $50,000. Royal Bank of Canada grew its holdings in shares of AltShares Merger Arbitrage ETF by 66.9% during the 1st quarter. Royal Bank of Canada now owns 6,656 shares of the company’s stock worth $196,000 after purchasing an additional 2,667 shares in the last quarter. Prosperity Bancshares Inc bought a new position in AltShares Merger Arbitrage ETF in the fourth quarter worth $262,000. Jane Street Group LLC acquired a new stake in AltShares Merger Arbitrage ETF during the second quarter worth $363,000. Finally, Apollon Wealth Management LLC bought a new stake in AltShares Merger Arbitrage ETF in the 1st quarter valued at $549,000. Institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Stock Performance

Shares of NYSEARCA ARB traded up $0.05 during mid-day trading on Thursday, reaching $29.81. The company had a trading volume of 3,296 shares, compared to its average volume of 15,519. AltShares Merger Arbitrage ETF has a twelve month low of $28.30 and a twelve month high of $32.48. The stock’s 50 day moving average is $29.65 and its 200-day moving average is $29.48. The stock has a market capitalization of $102.55 million, a PE ratio of 15.29 and a beta of 0.05.

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.