Sonoma Allocations LLC Cuts Stock Position in AltShares Merger Arbitrage ETF $ARB

Sonoma Allocations LLC lessened its holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 33.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,941 shares of the company’s stock after selling 19,759 shares during the period. Sonoma Allocations LLC owned approximately 1.13% of AltShares Merger Arbitrage ETF worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new position in AltShares Merger Arbitrage ETF during the fourth quarter valued at $50,000. Royal Bank of Canada increased its holdings in shares of AltShares Merger Arbitrage ETF by 66.9% in the 1st quarter. Royal Bank of Canada now owns 6,656 shares of the company’s stock worth $196,000 after buying an additional 2,667 shares during the last quarter. Prosperity Bancshares Inc bought a new stake in shares of AltShares Merger Arbitrage ETF in the 4th quarter worth about $262,000. Jane Street Group LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 2nd quarter valued at about $363,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 1st quarter valued at about $549,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Trading Up 0.1%

Shares of NYSEARCA:ARB opened at $29.69 on Friday. The company has a market cap of $102.13 million, a price-to-earnings ratio of 15.23 and a beta of 0.05. AltShares Merger Arbitrage ETF has a 12 month low of $28.30 and a 12 month high of $32.48. The company has a 50-day moving average price of $29.61 and a 200 day moving average price of $29.41.

AltShares Merger Arbitrage ETF 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.