Short Interest in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Declines By 70.9%

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 15,009 shares, a decline of 70.9% from the April 30th total of 51,559 shares. Based on an average trading volume of 21,421 shares, the short-interest ratio is currently 0.7 days. Approximately 0.4% of the company’s stock are short sold.

AltShares Merger Arbitrage ETF Price Performance

NYSEARCA:ARB traded down $0.06 during mid-day trading on Friday, hitting $29.51. 8,345 shares of the company’s stock were exchanged, compared to its average volume of 15,821. AltShares Merger Arbitrage ETF has a one year low of $27.55 and a one year high of $30.26. The business has a fifty day moving average price of $29.44 and a 200 day moving average price of $29.21. The company has a market cap of $99.74 million, a PE ratio of 15.13 and a beta of 0.05.

Institutional Investors Weigh In On AltShares Merger Arbitrage ETF

Several hedge funds have recently bought and sold shares of ARB. Assetmark Inc. boosted its stake in AltShares Merger Arbitrage ETF by 1,131.1% during the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock worth $7,782,000 after acquiring an additional 245,956 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in AltShares Merger Arbitrage ETF during the first quarter worth about $3,773,000. Raymond James Financial Inc. bought a new stake in AltShares Merger Arbitrage ETF during the second quarter worth about $2,800,000. Advisory Services Network LLC bought a new stake in AltShares Merger Arbitrage ETF during the second quarter worth about $1,580,000. Finally, Diversify Advisory Services LLC boosted its stake in AltShares Merger Arbitrage ETF by 76.8% during the second quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after acquiring an additional 47,879 shares in the last quarter. Institutional investors 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.