Advisors Preferred LLC Trims Stake in AltShares Merger Arbitrage ETF $ARB

Advisors Preferred LLC reduced its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 65.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,736 shares of the company’s stock after selling 10,730 shares during the quarter. Advisors Preferred LLC owned 0.19% of AltShares Merger Arbitrage ETF worth $164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors purchased a new stake in AltShares Merger Arbitrage ETF in the 1st quarter worth about $209,000. Kingswood Wealth Advisors LLC purchased a new stake in AltShares Merger Arbitrage ETF in the 2nd quarter worth about $221,000. Atria Wealth Solutions Inc. raised its position in AltShares Merger Arbitrage ETF by 14.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 9,659 shares of the company’s stock worth $273,000 after purchasing an additional 1,213 shares during the period. Columbus Macro LLC raised its position in AltShares Merger Arbitrage ETF by 5.2% in the 2nd quarter. Columbus Macro LLC now owns 24,847 shares of the company’s stock worth $708,000 after purchasing an additional 1,230 shares during the period. Finally, Cetera Investment Advisers grew its stake in AltShares Merger Arbitrage ETF by 19.1% in the 1st quarter. Cetera Investment Advisers now owns 41,658 shares of the company’s stock worth $1,176,000 after acquiring an additional 6,694 shares in the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.

AltShares Merger Arbitrage ETF Price Performance

Shares of ARB stock opened at $28.99 on Wednesday. The company has a market capitalization of $90.74 million, a P/E ratio of 14.87 and a beta of 0.05. The company’s 50-day simple moving average is $28.99 and its two-hundred day simple moving average is $28.65. AltShares Merger Arbitrage ETF has a one year low of $27.27 and a one year high of $30.26.

AltShares Merger Arbitrage ETF Profile

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.