Sonoma Allocations LLC Has $1.55 Million Stock Position in AltShares Merger Arbitrage ETF $ARB

Sonoma Allocations LLC lifted its stake in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 88.4% during the fourth quarter, HoldingsChannel reports. The firm owned 53,294 shares of the company’s stock after acquiring an additional 25,010 shares during the quarter. Sonoma Allocations LLC’s holdings in AltShares Merger Arbitrage ETF were worth $1,548,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. grew its stake in shares of AltShares Merger Arbitrage ETF by 1,131.1% in the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after buying an additional 245,956 shares in the last quarter. PFG Advisors increased its holdings in AltShares Merger Arbitrage ETF by 36.8% during the fourth quarter. PFG Advisors now owns 113,051 shares of the company’s stock worth $3,286,000 after buying an additional 30,383 shares during the last quarter. HighTower Advisors LLC raised its position in AltShares Merger Arbitrage ETF by 9.0% during the fourth quarter. HighTower Advisors LLC now owns 130,375 shares of the company’s stock worth $3,790,000 after acquiring an additional 10,798 shares in the last quarter. New York Life Investment Management LLC raised its position in AltShares Merger Arbitrage ETF by 2.8% during the fourth quarter. New York Life Investment Management LLC now owns 371,772 shares of the company’s stock worth $10,807,000 after acquiring an additional 10,118 shares in the last quarter. Finally, Legend Financial Advisors Inc. lifted its stake in AltShares Merger Arbitrage ETF by 2.8% in the fourth quarter. Legend Financial Advisors Inc. now owns 179,800 shares of the company’s stock valued at $5,227,000 after acquiring an additional 4,813 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Price Performance

Shares of ARB stock opened at $29.58 on Friday. The company has a fifty day moving average price of $29.52 and a two-hundred day moving average price of $29.27. AltShares Merger Arbitrage ETF has a one year low of $27.55 and a one year high of $30.97. The stock has a market cap of $99.98 million, a P/E ratio of 15.17 and a beta of 0.05.

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.