Sonoma Allocations LLC Acquires New Shares in AltShares Merger Arbitrage ETF $ARB

Sonoma Allocations LLC acquired a new position in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 28,284 shares of the company’s stock, valued at approximately $818,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of AltShares Merger Arbitrage ETF in the second quarter worth about $2,800,000. Advisory Services Network LLC bought a new stake in AltShares Merger Arbitrage ETF during the 2nd quarter worth approximately $1,580,000. Osaic Holdings Inc. increased its stake in AltShares Merger Arbitrage ETF by 538.9% during the 2nd quarter. Osaic Holdings Inc. now owns 61,938 shares of the company’s stock worth $1,765,000 after purchasing an additional 52,243 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in AltShares Merger Arbitrage ETF by 76.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after buying an additional 47,879 shares during the period. Finally, PFG Advisors lifted its stake in AltShares Merger Arbitrage ETF by 50.5% in the second quarter. PFG Advisors now owns 88,061 shares of the company’s stock valued at $2,509,000 after buying an additional 29,558 shares in the last quarter. 94.63% of the stock is owned by institutional investors and hedge funds.

AltShares Merger Arbitrage ETF Stock Down 0.0%

Shares of ARB stock opened at $29.03 on Friday. The firm has a fifty day moving average of $29.03 and a 200-day moving average of $28.91. AltShares Merger Arbitrage ETF has a 12-month low of $27.54 and a 12-month high of $30.26. The company has a market capitalization of $100.73 million, a price-to-earnings ratio of 14.89 and a beta of 0.05.

AltShares Merger Arbitrage ETF Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, December 19th. Shareholders of record on Thursday, December 18th were issued a dividend of $0.1257 per share. This represents a yield of 43.0%. The ex-dividend date was Thursday, December 18th. AltShares Merger Arbitrage ETF’s dividend payout ratio is 15.38%.

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.