Short Interest in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Rises By 637.5%

by · The Cerbat Gem

AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Get Free Report) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 51,559 shares, an increase of 637.5% from the April 15th total of 6,991 shares. Based on an average daily trading volume, of 14,772 shares, the short-interest ratio is currently 3.5 days. Approximately 1.5% of the company’s shares are sold short.

Institutional Trading of AltShares Merger Arbitrage ETF

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of AltShares Merger Arbitrage ETF in the 4th quarter valued at $50,000. Advisors Preferred LLC boosted its stake in AltShares Merger Arbitrage ETF by 55.4% in the 3rd quarter. Advisors Preferred LLC now owns 8,913 shares of the company’s stock worth $259,000 after purchasing an additional 3,177 shares during the period. Prosperity Bancshares Inc acquired a new position in AltShares Merger Arbitrage ETF in the 4th quarter worth $262,000. Jane Street Group LLC acquired a new position in AltShares Merger Arbitrage ETF in the 2nd quarter worth $363,000. Finally, Apollon Wealth Management LLC acquired a new position in AltShares Merger Arbitrage ETF in the 1st quarter worth $549,000. Institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Stock Up 0.3%

Shares of ARB traded up $0.08 during trading hours on Tuesday, reaching $29.52. The stock had a trading volume of 2,155 shares, compared to its average volume of 16,024. AltShares Merger Arbitrage ETF has a 52 week low of $27.55 and a 52 week high of $30.26. The firm has a 50-day moving average of $29.34 and a 200 day moving average of $29.16. The company has a market cap of $99.78 million, a P/E ratio of 15.14 and a beta of 0.05.

About AltShares Merger Arbitrage ETF

(Get Free Report)

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.

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