AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Shares Up 0.2% – Should You Buy?

AltShares Merger Arbitrage ETF (NYSEARCA:ARB)’s share price were up 0.2% during mid-day trading on Thursday. The company traded as high as $30.23 and last traded at $30.11. Approximately 18,248 shares traded hands during trading, an increase of 12% from the average daily volume of 16,335 shares. The stock had previously closed at $30.06.

AltShares Merger Arbitrage ETF Trading Up 0.2%

The company has a market cap of $110.80 million, a price-to-earnings ratio of 15.44 and a beta of 0.05. The firm’s 50-day moving average price is $29.90 and its 200 day moving average price is $29.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARB. Dynamic Advisor Solutions LLC grew its holdings in AltShares Merger Arbitrage ETF by 23.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 88,589 shares of the company’s stock worth $2,625,000 after purchasing an additional 16,904 shares during the period. Diversify Wealth Management LLC bought a new stake in AltShares Merger Arbitrage ETF in the first quarter valued at $3,773,000. Apollon Wealth Management LLC bought a new stake in AltShares Merger Arbitrage ETF in the first quarter valued at $549,000. Envestnet Asset Management Inc. raised its holdings in shares of AltShares Merger Arbitrage ETF by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 260,941 shares of the company’s stock valued at $7,732,000 after purchasing an additional 16,389 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of AltShares Merger Arbitrage ETF by 34.8% during the second quarter. Allworth Financial LP now owns 3,815 shares of the company’s stock valued at $113,000 after purchasing an additional 985 shares during the period. 94.63% of the stock is owned by institutional investors.

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.