Short Interest in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Decreases By 70.8%

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) saw a significant drop in short interest in August. As of August 14th, there was short interest totaling 6,795 shares, a drop of 70.8% from the July 30th total of 23,266 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 21,821 shares, the days-to-cover ratio is presently 0.3 days.

AltShares Merger Arbitrage ETF Stock Down 0.5%

Shares of ARB traded down $0.14 on Friday, hitting $29.75. The company’s stock had a trading volume of 5,027 shares, compared to its average volume of 15,520. The firm has a market capitalization of $102.34 million, a price-to-earnings ratio of 15.26 and a beta of 0.05. The firm’s fifty day moving average price is $29.66 and its 200-day moving average price is $29.49. AltShares Merger Arbitrage ETF has a fifty-two week low of $28.30 and a fifty-two week high of $32.48.

Institutional Investors Weigh In On AltShares Merger Arbitrage ETF

Large investors have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC increased its stake in shares of AltShares Merger Arbitrage ETF by 23.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 88,589 shares of the company’s stock worth $2,625,000 after purchasing an additional 16,904 shares during the last quarter. Sonoma Allocations LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 12.0% in the first quarter. Sonoma Allocations LLC now owns 59,700 shares of the company’s stock valued at $1,754,000 after buying an additional 6,406 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of AltShares Merger Arbitrage ETF by 4.0% during the 1st quarter. Bank of America Corp DE now owns 29,637 shares of the company’s stock worth $869,000 after acquiring an additional 1,128 shares during the period. Royal Bank of Canada boosted its stake in shares of AltShares Merger Arbitrage ETF by 66.9% during the 1st quarter. Royal Bank of Canada now owns 6,656 shares of the company’s stock worth $196,000 after acquiring an additional 2,667 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of AltShares Merger Arbitrage ETF by 8.8% during the 1st quarter. Cetera Investment Advisers now owns 53,975 shares of the company’s stock worth $1,583,000 after acquiring an additional 4,384 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

About AltShares Merger Arbitrage ETF

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.