Short Interest in First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Declines By 48.6%

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 11,065 shares, a decline of 48.6% from the February 26th total of 21,523 shares. Based on an average daily volume of 7,735 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.6% of the company’s shares are short sold.

First Trust Merger Arbitrage ETF Price Performance

Shares of NYSEARCA:MARB remained flat at $20.71 during trading on Friday. The stock had a trading volume of 25,363 shares, compared to its average volume of 17,518. First Trust Merger Arbitrage ETF has a 52-week low of $19.56 and a 52-week high of $22.33. The stock has a market capitalization of $39.35 million, a price-to-earnings ratio of 20.69 and a beta of 0.03. The firm’s 50-day simple moving average is $20.70 and its two-hundred day simple moving average is $20.61.

Institutional Investors Weigh In On First Trust Merger Arbitrage ETF

Several institutional investors have recently added to or reduced their stakes in MARB. Assetmark Inc. boosted its stake in shares of First Trust Merger Arbitrage ETF by 65.6% during the 4th quarter. Assetmark Inc. now owns 106,302 shares of the company’s stock valued at $2,194,000 after purchasing an additional 42,126 shares in the last quarter. Citadel Advisors LLC bought a new position in First Trust Merger Arbitrage ETF in the third quarter worth about $832,000. Center For Asset Management LLC bought a new position in First Trust Merger Arbitrage ETF in the fourth quarter worth about $739,000. LPL Financial LLC lifted its holdings in First Trust Merger Arbitrage ETF by 13.1% in the fourth quarter. LPL Financial LLC now owns 295,464 shares of the company’s stock worth $6,098,000 after buying an additional 34,208 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its holdings in First Trust Merger Arbitrage ETF by 36.4% in the second quarter. Coppell Advisory Solutions LLC now owns 110,466 shares of the company’s stock worth $2,249,000 after buying an additional 29,464 shares during the period.

About First Trust Merger Arbitrage ETF

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.