First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Shares Shorted: Short Interest Down 41.6% in September

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 34,370 shares, a drop of 41.6% from the September 15th total of 58,821 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 42,403 shares, the days-to-cover ratio is presently 0.8 days.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

NASDAQ:FAAR traded up $0.16 during trading hours on Friday, reaching $32.77. The company had a trading volume of 37,529 shares, compared to its average volume of 42,180. The stock has a 50-day moving average of $31.80 and a two-hundred day moving average of $32.47. First Trust Alternative Absolute Return Strategy ETF has a one year low of $26.73 and a one year high of $35.81.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a $0.1372 dividend. The ex-dividend date was Thursday, September 24th. This is a negative change from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.1440. This represents a $0.55 dividend on an annualized basis and a yield of 1.7%.

Institutional Investors Weigh In On First Trust Alternative Absolute Return Strategy ETF

Several institutional investors have recently modified their holdings of the business. First Trust Advisors LP boosted its stake in First Trust Alternative Absolute Return Strategy ETF by 11.0% in the first quarter. First Trust Advisors LP now owns 302,639 shares of the company’s stock valued at $10,213,000 after acquiring an additional 29,955 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in First Trust Alternative Absolute Return Strategy ETF in the second quarter valued at about $94,000. Cetera Investment Advisers lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 9.1% in the first quarter. Cetera Investment Advisers now owns 247,593 shares of the company’s stock valued at $8,356,000 after buying an additional 20,736 shares during the period. RFG Advisory LLC lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 40.4% in the second quarter. RFG Advisory LLC now owns 169,240 shares of the company’s stock valued at $5,351,000 after buying an additional 48,676 shares during the period. Finally, Fig Financial Advisory Services Inc. ADV bought a new position in First Trust Alternative Absolute Return Strategy ETF during the third quarter worth about $2,503,000.

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.