AltShares Merger Arbitrage ETF (NYSEARCA:ARB) to Issue $0.13 Annual Dividend

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) announced an annual dividend on Wednesday, December 17th. Stockholders of record on Thursday, December 18th will be paid a dividend of 0.1257 per share on Friday, December 19th. This represents a dividend yield of 43.0%. The ex-dividend date is Thursday, December 18th.

AltShares Merger Arbitrage ETF Price Performance

ARB stock opened at $29.11 on Thursday. AltShares Merger Arbitrage ETF has a 1 year low of $27.27 and a 1 year high of $30.26. The company has a market cap of $91.11 million, a P/E ratio of 14.93 and a beta of 0.05. The firm has a 50-day moving average of $29.02 and a 200 day moving average of $28.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. PFG Advisors raised its holdings in AltShares Merger Arbitrage ETF by 50.5% in the second quarter. PFG Advisors now owns 88,061 shares of the company’s stock worth $2,509,000 after purchasing an additional 29,558 shares in the last quarter. Legend Financial Advisors Inc. grew its position in shares of AltShares Merger Arbitrage ETF by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 174,436 shares of the company’s stock worth $4,970,000 after buying an additional 3,196 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF in the 2nd quarter worth about $221,000. Steward Partners Investment Advisory LLC lifted its position in AltShares Merger Arbitrage ETF by 49.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 38,449 shares of the company’s stock valued at $1,095,000 after acquiring an additional 12,639 shares during the period. Finally, HighTower Advisors LLC lifted its position in AltShares Merger Arbitrage ETF by 10.6% during the 1st quarter. HighTower Advisors LLC now owns 104,580 shares of the company’s stock valued at $2,953,000 after acquiring an additional 10,056 shares during the period. Institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Company 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.