First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) Sees Large Growth in Short Interest

First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 98,258 shares, an increase of 60.1% from the August 15th total of 61,369 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 106,857 shares, the short-interest ratio is presently 0.9 days.

First Trust Multi-Strategy Alternative ETF Stock Performance

First Trust Multi-Strategy Alternative ETF stock opened at $24.84 on Friday. The stock’s fifty day moving average price is $24.35 and its two-hundred day moving average price is $24.46. First Trust Multi-Strategy Alternative ETF has a one year low of $22.39 and a one year high of $25.18.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in First Trust Multi-Strategy Alternative ETF during the second quarter worth about $926,000. IFP Advisors Inc acquired a new position in shares of First Trust Multi-Strategy Alternative ETF in the 2nd quarter valued at approximately $2,094,000. Tucker Asset Management LLC acquired a new position in shares of First Trust Multi-Strategy Alternative ETF in the 2nd quarter valued at approximately $358,000. Valeo Financial Advisors LLC bought a new stake in shares of First Trust Multi-Strategy Alternative ETF during the 2nd quarter worth approximately $265,000. Finally, TrueWealth Advisors LLC bought a new stake in shares of First Trust Multi-Strategy Alternative ETF during the 2nd quarter worth approximately $230,000.

First Trust Multi-Strategy Alternative ETF Company Profile

The First Trust Multi-Strategy Alternative ETF (LALT) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund is an actively managed fund-of-funds that utilizes multiple alternative strategies in an attempt to provide lower correlation and more diversified risk exposures than traditional investments over various market cycles. LALT was launched on Jan 31, 2023 and is managed by First Trust.