First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Sees Significant Growth in Short Interest

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 21,523 shares, a growth of 246.5% from the February 12th total of 6,212 shares. Based on an average daily trading volume, of 18,750 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.1% of the shares of the company are sold short. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 18,750 shares, the days-to-cover ratio is currently 1.1 days.

First Trust Merger Arbitrage ETF Price Performance

Shares of MARB stock remained flat at $20.68 on Wednesday. The stock had a trading volume of 5,562 shares, compared to its average volume of 18,599. The firm has a 50 day moving average price of $20.70 and a 200 day moving average price of $20.61. First Trust Merger Arbitrage ETF has a 12 month low of $19.56 and a 12 month high of $22.33. The company has a market capitalization of $39.29 million, a price-to-earnings ratio of 20.69 and a beta of 0.03.

Institutional Trading of First Trust Merger Arbitrage ETF

A number of institutional investors have recently modified their holdings of MARB. Assetmark Inc. boosted its holdings in shares of First Trust Merger Arbitrage ETF by 65.6% in the fourth quarter. Assetmark Inc. now owns 106,302 shares of the company’s stock worth $2,194,000 after acquiring an additional 42,126 shares during the period. Citadel Advisors LLC purchased a new position in First Trust Merger Arbitrage ETF during the 3rd quarter valued at about $832,000. Center For Asset Management LLC bought a new stake in shares of First Trust Merger Arbitrage ETF during the fourth quarter valued at about $739,000. LPL Financial LLC lifted its holdings in shares of First Trust Merger Arbitrage ETF by 13.1% in the fourth quarter. LPL Financial LLC now owns 295,464 shares of the company’s stock worth $6,098,000 after buying an additional 34,208 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its holdings in shares of First Trust Merger Arbitrage ETF by 36.4% in the second quarter. Coppell Advisory Solutions LLC now owns 110,466 shares of the company’s stock worth $2,249,000 after buying an additional 29,464 shares in the last quarter.

About First Trust Merger Arbitrage ETF

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.