Diversify Wealth Management LLC Invests $3.77 Million in AltShares Merger Arbitrage ETF $ARB

Diversify Wealth Management LLC acquired a new position in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 127,859 shares of the company’s stock, valued at approximately $3,773,000.

Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. boosted its position 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 purchasing an additional 245,956 shares in the last quarter. Raymond James Financial Inc. bought a new position in AltShares Merger Arbitrage ETF in the second quarter worth about $2,800,000. Advisory Services Network LLC bought a new position in AltShares Merger Arbitrage ETF in the second quarter worth about $1,580,000. Diversify Advisory Services LLC raised its holdings in AltShares Merger Arbitrage ETF by 76.8% in the second quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after purchasing an additional 47,879 shares in the last quarter. Finally, PFG Advisors lifted its position in shares of AltShares Merger Arbitrage ETF by 36.8% during the fourth quarter. PFG Advisors now owns 113,051 shares of the company’s stock valued at $3,286,000 after buying an additional 30,383 shares during the last quarter. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

AltShares Merger Arbitrage ETF Stock Performance

ARB stock opened at $29.71 on Monday. AltShares Merger Arbitrage ETF has a one year low of $28.30 and a one year high of $30.97. The firm has a market cap of $104.58 million, a price-to-earnings ratio of 15.24 and a beta of 0.05. The firm has a 50-day simple moving average of $29.57 and a two-hundred day simple moving average of $29.33.

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.