Short Interest in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Rises By 637.5%

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 51,559 shares, an increase of 637.5% from the April 15th total of 6,991 shares. Based on an average daily trading volume, of 14,772 shares, the days-to-cover ratio is presently 3.5 days. Approximately 1.5% of the company’s shares are short sold.

AltShares Merger Arbitrage ETF Stock Up 0.3%

NYSEARCA:ARB traded up $0.08 during trading hours on Tuesday, hitting $29.52. 2,155 shares of the stock were exchanged, compared to its average volume of 16,024. The company’s 50 day moving average is $29.34 and its two-hundred day moving average is $29.16. AltShares Merger Arbitrage ETF has a twelve month low of $27.55 and a twelve month high of $30.26. The company has a market capitalization of $99.78 million, a P/E ratio of 15.14 and a beta of 0.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of AltShares Merger Arbitrage ETF by 1,131.1% during the 4th quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after acquiring an additional 245,956 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of AltShares Merger Arbitrage ETF by 6.6% in the 3rd quarter. New York Life Investment Management LLC now owns 361,654 shares of the company’s stock valued at $10,484,000 after buying an additional 22,265 shares in the last quarter. PFG Advisors increased its position in shares of AltShares Merger Arbitrage ETF by 36.8% in the 4th quarter. PFG Advisors now owns 113,051 shares of the company’s stock valued at $3,286,000 after buying an additional 30,383 shares in the last quarter. Legend Financial Advisors Inc. increased its position in shares of AltShares Merger Arbitrage ETF by 0.3% in the 3rd quarter. Legend Financial Advisors Inc. now owns 174,987 shares of the company’s stock valued at $5,073,000 after buying an additional 551 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its position in shares of AltShares Merger Arbitrage ETF by 2.1% in the 4th quarter. Diversify Advisory Services LLC now owns 113,427 shares of the company’s stock valued at $3,295,000 after buying an additional 2,333 shares in 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.