Short Interest in First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) Drops By 76.5%

First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 10,628 shares, a decline of 76.5% from the April 30th total of 45,198 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 33,292 shares, the days-to-cover ratio is presently 0.3 days.

First Trust Multi-Strategy Alternative ETF Stock Performance

NYSEARCA:LALT traded up $0.01 on Friday, hitting $24.76. 28,963 shares of the stock were exchanged, compared to its average volume of 21,961. First Trust Multi-Strategy Alternative ETF has a 52 week low of $20.80 and a 52 week high of $25.18. The company’s 50-day moving average price is $24.60 and its 200 day moving average price is $23.91.

Institutional Trading of First Trust Multi-Strategy Alternative ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new position in shares of First Trust Multi-Strategy Alternative ETF in the 1st quarter valued at $150,000. Kestra Advisory Services LLC boosted its position in shares of First Trust Multi-Strategy Alternative ETF by 186.0% in the 1st quarter. Kestra Advisory Services LLC now owns 8,455 shares of the company’s stock worth $206,000 after purchasing an additional 5,499 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of First Trust Multi-Strategy Alternative ETF by 13.1% in the 1st quarter. Cetera Investment Advisers now owns 85,501 shares of the company’s stock worth $2,078,000 after purchasing an additional 9,928 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of First Trust Multi-Strategy Alternative ETF by 57.0% in the 1st quarter. Royal Bank of Canada now owns 308,314 shares of the company’s stock worth $7,494,000 after purchasing an additional 111,900 shares during the last quarter.

First Trust Multi-Strategy Alternative ETF Company Profile

The First Trust Multi-Strategy Alternative ETF (LALT) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund is an actively managed fund-of-funds that utilizes multiple alternative strategies in an attempt to provide lower correlation and more diversified risk exposures than traditional investments over various market cycles. LALT was launched on Jan 31, 2023 and is managed by First Trust.