Dynamic Advisor Solutions LLC Has $2.62 Million Stock Position in AltShares Merger Arbitrage ETF $ARB

Dynamic Advisor Solutions LLC boosted its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 23.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,589 shares of the company’s stock after buying an additional 16,904 shares during the quarter. Dynamic Advisor Solutions LLC owned approximately 2.52% of AltShares Merger Arbitrage ETF worth $2,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ARB. Kestra Advisory Services LLC bought a new position in shares of AltShares Merger Arbitrage ETF during the 4th quarter worth $50,000. Royal Bank of Canada raised its stake in shares of AltShares Merger Arbitrage ETF by 66.9% during the first quarter. Royal Bank of Canada now owns 6,656 shares of the company’s stock valued at $196,000 after acquiring an additional 2,667 shares during the last quarter. Prosperity Bancshares Inc purchased a new stake in shares of AltShares Merger Arbitrage ETF in the 4th quarter worth about $262,000. Jane Street Group LLC bought a new stake in AltShares Merger Arbitrage ETF during the 2nd quarter valued at approximately $363,000. Finally, Apollon Wealth Management LLC bought a new position in shares of AltShares Merger Arbitrage ETF in the 1st quarter worth about $549,000. Institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Price Performance

Shares of NYSEARCA:ARB opened at $29.69 on Friday. AltShares Merger Arbitrage ETF has a 1 year low of $28.30 and a 1 year high of $32.48. The company has a market cap of $102.13 million, a P/E ratio of 15.23 and a beta of 0.05. The stock’s fifty day moving average price is $29.61 and its 200-day moving average price is $29.41.

AltShares Merger Arbitrage ETF 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.