First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Shares Shorted: Short Interest Up 138.5% in September

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 58,821 shares, an increase of 138.5% from the August 31st total of 24,664 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 44,035 shares, the short-interest ratio is presently 1.3 days.

First Trust Alternative Absolute Return Strategy ETF Trading Down 1.0%

Shares of NASDAQ:FAAR traded down $0.32 during trading on Friday, reaching $32.24. 40,150 shares of the company traded hands, compared to its average volume of 41,221. The firm has a fifty day simple moving average of $31.43 and a 200 day simple moving average of $32.58. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $26.73 and a 1-year high of $35.81.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be paid a $0.1372 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, September 24th. This is a drop from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.1440.

Institutional Investors Weigh In On First Trust Alternative Absolute Return Strategy ETF

A number of institutional investors have recently bought and sold shares of the business. Coppell Advisory Solutions LLC acquired a new stake in First Trust Alternative Absolute Return Strategy ETF during the 2nd quarter valued at $94,000. RFG Advisory LLC increased its holdings in First Trust Alternative Absolute Return Strategy ETF by 40.4% in the second quarter. RFG Advisory LLC now owns 169,240 shares of the company’s stock valued at $5,351,000 after purchasing an additional 48,676 shares during the last quarter. Gateway Wealth Partners LLC raised its position in shares of First Trust Alternative Absolute Return Strategy ETF by 128.3% in the 1st quarter. Gateway Wealth Partners LLC now owns 75,573 shares of the company’s stock valued at $2,550,000 after acquiring an additional 42,472 shares during the period. First Trust Advisors LP raised its holdings in First Trust Alternative Absolute Return Strategy ETF by 11.0% in the first quarter. First Trust Advisors LP now owns 302,639 shares of the company’s stock worth $10,213,000 after purchasing an additional 29,955 shares during the period. Finally, Cetera Investment Advisers raised its stake in First Trust Alternative Absolute Return Strategy ETF by 9.1% during the 1st quarter. Cetera Investment Advisers now owns 247,593 shares of the company’s stock worth $8,356,000 after buying an additional 20,736 shares during the period.

About First Trust Alternative Absolute Return Strategy ETF

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.