Short Interest in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Rises By 39.4%

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 23,700 shares, an increase of 39.4% from the March 15th total of 17,000 shares. Based on an average daily trading volume, of 21,600 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the shares of the company are short sold.

Hedge Funds Weigh In On First Trust Alternative Absolute Return Strategy ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FAAR. Envestnet Asset Management Inc. lifted its position in First Trust Alternative Absolute Return Strategy ETF by 2.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 352,997 shares of the company’s stock worth $9,887,000 after acquiring an additional 9,656 shares during the period. LPL Financial LLC grew its position in First Trust Alternative Absolute Return Strategy ETF by 11.8% in the 4th quarter. LPL Financial LLC now owns 214,734 shares of the company’s stock valued at $6,015,000 after buying an additional 22,663 shares during the last quarter. Cetera Investment Advisers increased its stake in First Trust Alternative Absolute Return Strategy ETF by 16.4% in the 4th quarter. Cetera Investment Advisers now owns 137,629 shares of the company’s stock valued at $3,855,000 after buying an additional 19,436 shares during the period. Assetmark Inc. raised its position in First Trust Alternative Absolute Return Strategy ETF by 9.6% during the 4th quarter. Assetmark Inc. now owns 126,933 shares of the company’s stock worth $3,555,000 after buying an additional 11,171 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 29.3% in the 4th quarter. First Trust Advisors LP now owns 106,076 shares of the company’s stock worth $2,971,000 after acquiring an additional 24,035 shares during the period.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of First Trust Alternative Absolute Return Strategy ETF stock traded up $0.13 during trading on Friday, reaching $26.49. The company’s stock had a trading volume of 15,966 shares, compared to its average volume of 25,857. The company has a 50-day moving average price of $27.96 and a two-hundred day moving average price of $28.03. First Trust Alternative Absolute Return Strategy ETF has a fifty-two week low of $25.19 and a fifty-two week high of $31.10.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were issued a $0.1533 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 2.31%.

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.