AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Up 27.7% in May

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 6,000 shares, an increase of 27.7% from the May 15th total of 4,700 shares. Based on an average daily volume of 11,600 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

A number of institutional investors and hedge funds have recently bought and sold shares of ARB. Steward Partners Investment Advisory LLC increased its position in AltShares Merger Arbitrage ETF by 68.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,856 shares of the company’s stock worth $161,000 after acquiring an additional 2,375 shares during the period. World Investment Advisors bought a new position in AltShares Merger Arbitrage ETF during the first quarter worth $209,000. LPL Financial LLC bought a new position in AltShares Merger Arbitrage ETF during the fourth quarter worth $218,000. Atria Wealth Solutions Inc. bought a new position in AltShares Merger Arbitrage ETF during the fourth quarter worth $233,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in AltShares Merger Arbitrage ETF by 22.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,446 shares of the company’s stock worth $370,000 after acquiring an additional 2,470 shares during the period.

AltShares Merger Arbitrage ETF Stock Up 0.0%

NYSEARCA:ARB opened at $28.37 on Thursday. AltShares Merger Arbitrage ETF has a 12 month low of $25.81 and a 12 month high of $28.75. The firm has a market cap of $86.81 million, a price-to-earnings ratio of 17.48 and a beta of 0.09. The company’s 50 day moving average is $28.23 and its 200-day moving average is $28.03.

AltShares Merger Arbitrage ETF Company Profile

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.