Short Interest in First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Decreases By 88.9%

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totaling 2,761 shares, a drop of 88.9% from the November 30th total of 24,984 shares. Based on an average daily trading volume, of 6,609 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 6,609 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its stake in First Trust Merger Arbitrage ETF by 15.9% in the second quarter. Assetmark Inc. now owns 93,082 shares of the company’s stock valued at $1,903,000 after purchasing an additional 12,741 shares in the last quarter. Coppell Advisory Solutions LLC lifted its holdings in First Trust Merger Arbitrage ETF by 36.4% in the 2nd quarter. Coppell Advisory Solutions LLC now owns 110,466 shares of the company’s stock worth $2,249,000 after purchasing an additional 29,464 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of First Trust Merger Arbitrage ETF by 28.2% during the 1st quarter. CreativeOne Wealth LLC now owns 45,375 shares of the company’s stock worth $906,000 after buying an additional 9,983 shares during the period. Simplicity Wealth LLC boosted its holdings in First Trust Merger Arbitrage ETF by 109.7% during the second quarter. Simplicity Wealth LLC now owns 45,920 shares of the company’s stock valued at $939,000 after acquiring an additional 24,026 shares during the period. Finally, TFB Advisors LLC bought a new stake in First Trust Merger Arbitrage ETF during the 2nd quarter valued at approximately $207,000.

First Trust Merger Arbitrage ETF Stock Performance

Shares of NYSEARCA MARB traded down $0.01 during midday trading on Thursday, reaching $20.61. 2,545 shares of the company’s stock were exchanged, compared to its average volume of 10,487. The business’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $20.55. First Trust Merger Arbitrage ETF has a 52-week low of $19.49 and a 52-week high of $22.33. The stock has a market capitalization of $34.01 million, a PE ratio of 20.69 and a beta of 0.03.

About First Trust Merger Arbitrage ETF

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.