First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Shares Down 1.2% – Here’s What Happened

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)’s stock price fell 1.2% on Friday . The company traded as low as $33.34 and last traded at $33.39. 23,456 shares were traded during trading, a decline of 32% from the average session volume of 34,551 shares. The stock had previously closed at $33.80.

First Trust Alternative Absolute Return Strategy ETF Trading Down 1.2%

The stock’s 50-day simple moving average is $33.84 and its two-hundred day simple moving average is $31.21.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a dividend of $0.1087 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.43 dividend on an annualized basis and a yield of 1.3%.

Institutional Trading of First Trust Alternative Absolute Return Strategy ETF

Large investors have recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in shares of First Trust Alternative Absolute Return Strategy ETF during the fourth quarter worth approximately $31,000. CoreCap Advisors LLC increased its position in shares of First Trust Alternative Absolute Return Strategy ETF by 20.9% during the fourth quarter. CoreCap Advisors LLC now owns 2,205 shares of the company’s stock worth $60,000 after purchasing an additional 381 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in shares of First Trust Alternative Absolute Return Strategy ETF during the first quarter worth approximately $120,000. Tucker Asset Management LLC purchased a new stake in shares of First Trust Alternative Absolute Return Strategy ETF during the fourth quarter worth approximately $101,000. Finally, Rossby Financial LCC increased its position in shares of First Trust Alternative Absolute Return Strategy ETF by 121.2% during the third quarter. Rossby Financial LCC now owns 4,887 shares of the company’s stock worth $148,000 after purchasing an additional 2,678 shares in the last quarter.

About First Trust Alternative Absolute Return Strategy ETF

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.