First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Shares Down 1.2% – Here’s What Happened

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) shares traded down 1.2% during mid-day trading on Friday . The company traded as low as $33.34 and last traded at $33.39. 23,456 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 34,551 shares. The stock had previously closed at $33.80.

First Trust Alternative Absolute Return Strategy ETF Stock Down 1.2%

The business has a 50 day simple moving average of $33.84 and a 200-day simple moving average of $31.21.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a $0.1087 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.3%.

Institutional Trading of First Trust Alternative Absolute Return Strategy ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 1,222.0% in the 1st quarter. Parallel Advisors LLC now owns 7,139 shares of the company’s stock worth $241,000 after acquiring an additional 6,599 shares during the last quarter. Gateway Wealth Partners LLC grew its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 128.3% during the 1st quarter. Gateway Wealth Partners LLC now owns 75,573 shares of the company’s stock worth $2,550,000 after purchasing an additional 42,472 shares during the period. Cetera Investment Advisers grew its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 9.1% during the 1st quarter. Cetera Investment Advisers now owns 247,593 shares of the company’s stock worth $8,356,000 after purchasing an additional 20,736 shares during the period. First Trust Advisors LP grew its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 11.0% during the 1st quarter. First Trust Advisors LP now owns 302,639 shares of the company’s stock worth $10,213,000 after purchasing an additional 29,955 shares during the period. Finally, Advisors Preferred LLC purchased a new position in shares of First Trust Alternative Absolute Return Strategy ETF during the 1st quarter worth $255,000.

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.