Short Interest in First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) Declines By 60.7%

First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 61,369 shares, a drop of 60.7% from the July 30th total of 156,193 shares. Based on an average daily volume of 163,352 shares, the short-interest ratio is presently 0.4 days. Currently, 0.5% of the company’s shares are short sold.

Hedge Funds Weigh In On First Trust Multi-Strategy Alternative ETF

A number of large investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC purchased a new position in shares of First Trust Multi-Strategy Alternative ETF in the first quarter worth $150,000. Kestra Advisory Services LLC grew its position in shares of First Trust Multi-Strategy Alternative ETF by 186.0% in the 1st quarter. Kestra Advisory Services LLC now owns 8,455 shares of the company’s stock worth $206,000 after buying an additional 5,499 shares during the last quarter. TrueWealth Advisors LLC purchased a new position in shares of First Trust Multi-Strategy Alternative ETF during the second quarter valued at approximately $230,000. Valeo Financial Advisors LLC bought a new position in shares of First Trust Multi-Strategy Alternative ETF during the second quarter valued at approximately $265,000. Finally, Tucker Asset Management LLC bought a new position in shares of First Trust Multi-Strategy Alternative ETF during the second quarter valued at approximately $358,000.

First Trust Multi-Strategy Alternative ETF Stock Performance

First Trust Multi-Strategy Alternative ETF stock traded down $0.06 during mid-day trading on Friday, hitting $24.34. The company’s stock had a trading volume of 22,289 shares, compared to its average volume of 98,130. The business has a 50 day moving average price of $24.18 and a 200-day moving average price of $24.39. First Trust Multi-Strategy Alternative ETF has a 12 month low of $22.05 and a 12 month high of $25.18.

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.