AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Update

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 23,266 shares, a growth of 80.7% from the July 15th total of 12,874 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 12,250 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On AltShares Merger Arbitrage ETF

Several hedge funds have recently added to or reduced their stakes in ARB. Kestra Advisory Services LLC acquired a new position in AltShares Merger Arbitrage ETF in the 4th quarter valued at approximately $50,000. Royal Bank of Canada lifted its holdings in shares of AltShares Merger Arbitrage ETF by 66.9% during the first 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 during the period. Prosperity Bancshares Inc acquired a new position in shares of AltShares Merger Arbitrage ETF during the fourth quarter worth $262,000. Jane Street Group LLC bought a new stake in shares of AltShares Merger Arbitrage ETF in the second quarter worth $363,000. Finally, Apollon Wealth Management LLC acquired a new stake in AltShares Merger Arbitrage ETF in the first quarter valued at $549,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

AltShares Merger Arbitrage ETF Stock Up 0.1%

Shares of ARB stock traded up $0.02 during mid-day trading on Friday, reaching $29.76. 3,139 shares of the stock traded hands, compared to its average volume of 15,965. The company has a market cap of $102.37 million, a price-to-earnings ratio of 15.26 and a beta of 0.05. The stock’s fifty day simple moving average is $29.62 and its two-hundred day simple moving average is $29.44. AltShares Merger Arbitrage ETF has a 1-year low of $28.30 and a 1-year high of $32.48.

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.