First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Short Interest Update

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 24,664 shares, a drop of 55.4% from the August 15th total of 55,355 shares. Based on an average trading volume of 26,805 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.4% of the company’s stock are sold short.

First Trust Alternative Absolute Return Strategy ETF Trading Up 0.3%

Shares of FAAR traded up $0.10 during trading hours on Monday, hitting $32.09. The company had a trading volume of 37,667 shares, compared to its average volume of 41,107. First Trust Alternative Absolute Return Strategy ETF has a one year low of $26.73 and a one year high of $35.81. The company’s fifty day moving average price is $31.23 and its two-hundred day moving average price is $32.51.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a $0.144 dividend. The ex-dividend date was Thursday, June 25th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.8%. This is an increase from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.11.

Institutional Investors Weigh In On First Trust Alternative Absolute Return Strategy ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of FAAR. Integrated Wealth Concepts LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF in the second quarter worth $451,000. RFG Advisory LLC increased its position in shares of First Trust Alternative Absolute Return Strategy ETF by 40.4% in the 2nd quarter. RFG Advisory LLC now owns 169,240 shares of the company’s stock valued at $5,351,000 after acquiring an additional 48,676 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the second quarter worth about $94,000. CoreCap Advisors LLC lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 18.2% during the 2nd quarter. CoreCap Advisors LLC now owns 3,419 shares of the company’s stock valued at $108,000 after acquiring an additional 527 shares during the period. Finally, Parallel Advisors LLC lifted its position in First Trust Alternative Absolute Return Strategy ETF by 1,222.0% during the first quarter. Parallel Advisors LLC now owns 7,139 shares of the company’s stock valued at $241,000 after purchasing an additional 6,599 shares during the period.

About First Trust Alternative Absolute Return Strategy ETF

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.