AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Update

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 23,266 shares, a growth of 80.7% from the July 15th total of 12,874 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 12,250 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in AltShares Merger Arbitrage ETF in the fourth quarter valued at approximately $50,000. Royal Bank of Canada increased its position in AltShares Merger Arbitrage ETF by 66.9% during the 1st quarter. Royal Bank of Canada now owns 6,656 shares of the company’s stock valued at $196,000 after purchasing an additional 2,667 shares during the period. Prosperity Bancshares Inc bought a new position in AltShares Merger Arbitrage ETF during the 4th quarter worth approximately $262,000. Jane Street Group LLC bought a new position in AltShares Merger Arbitrage ETF during the 2nd quarter worth approximately $363,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of AltShares Merger Arbitrage ETF in the 1st quarter worth approximately $549,000. 94.63% of the stock is owned by institutional investors and hedge funds.

AltShares Merger Arbitrage ETF Stock Up 0.1%

Shares of NYSEARCA ARB traded up $0.02 during trading on Friday, reaching $29.76. The company had a trading volume of 3,139 shares, compared to its average volume of 15,965. The company’s fifty day moving average price is $29.62 and its 200-day moving average price is $29.44. AltShares Merger Arbitrage ETF has a 12 month low of $28.30 and a 12 month high of $32.48. The stock has a market cap of $102.37 million, a P/E ratio of 15.26 and a beta of 0.05.

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.