First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Stock Short Interest Drops 41.6%

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 34,370 shares, a drop of 41.6% from the September 15th total of 58,821 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 42,403 shares, the short-interest ratio is currently 0.8 days.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of NASDAQ:FAAR traded down $0.10 during midday trading on Thursday, reaching $32.60. 33,349 shares of the company traded hands, compared to its average volume of 42,152. First Trust Alternative Absolute Return Strategy ETF has a 12 month low of $26.73 and a 12 month high of $35.81. The firm’s fifty day moving average price is $31.77 and its two-hundred day moving average price is $32.47.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a dividend of $0.1372 per share. This represents a $0.55 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 24th. This is a drop from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.1440.

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

Several hedge funds and other institutional investors have recently modified their holdings of FAAR. HBW Advisory Services LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 7.0% in the 1st quarter. HBW Advisory Services LLC now owns 8,028 shares of the company’s stock worth $271,000 after acquiring an additional 526 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of 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 last quarter. Balboa Wealth Partners boosted its position in shares of First Trust Alternative Absolute Return Strategy ETF by 3.1% during the 1st quarter. Balboa Wealth Partners now owns 17,866 shares of the company’s stock valued at $603,000 after acquiring an additional 533 shares during the last quarter. Signal Advisors Wealth LLC grew its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 35.4% during the third quarter. Signal Advisors Wealth LLC now owns 9,901 shares of the company’s stock worth $319,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Ascentis Independent Advisors bought a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the first quarter worth approximately $120,000.

First Trust Alternative Absolute Return Strategy ETF Company Profile

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.