Short Interest in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Expands By 117.2%

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 40,832 shares, a growth of 117.2% from the February 12th total of 18,800 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 18,466 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily trading volume, of 18,466 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in First Trust Alternative Absolute Return Strategy ETF in the 4th quarter worth about $31,000. CoreCap Advisors LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 20.9% in the 4th quarter. CoreCap Advisors LLC now owns 2,205 shares of the company’s stock valued at $60,000 after buying an additional 381 shares during the last quarter. Tucker Asset Management LLC purchased a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the 4th quarter worth approximately $101,000. Rossby Financial LCC boosted its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 121.2% in the 3rd quarter. Rossby Financial LCC now owns 4,887 shares of the company’s stock worth $148,000 after buying an additional 2,678 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 5,645 shares of the company’s stock valued at $153,000 after acquiring an additional 1,349 shares in the last quarter.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of NASDAQ:FAAR opened at $33.48 on Thursday. The stock’s fifty day simple moving average is $29.48 and its two-hundred day simple moving average is $29.72. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $25.19 and a 1-year high of $34.34.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a dividend of $2.6485 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This is an increase from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.18. This represents a $10.59 dividend on an annualized basis and a dividend yield of 31.6%.

First Trust Alternative Absolute Return Strategy ETF Company Profile

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.