Short Interest in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Expands By 637.5%

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 51,559 shares, an increase of 637.5% from the April 15th total of 6,991 shares. Based on an average trading volume of 14,772 shares, the days-to-cover ratio is currently 3.5 days. Currently, 1.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. increased its stake in AltShares Merger Arbitrage ETF by 1.7% in the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 589,523 shares of the company’s stock worth $17,137,000 after acquiring an additional 9,787 shares during the last quarter. New York Life Investment Management LLC boosted its position in shares of AltShares Merger Arbitrage ETF by 2.8% during the 4th quarter. New York Life Investment Management LLC now owns 371,772 shares of the company’s stock valued at $10,807,000 after acquiring an additional 10,118 shares during the last quarter. Assetmark Inc. grew its holdings 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 purchasing an additional 245,956 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in AltShares Merger Arbitrage ETF by 1.5% in the fourth quarter. Orion Porfolio Solutions LLC now owns 185,153 shares of the company’s stock worth $5,382,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Legend Financial Advisors Inc. increased its position 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 worth $5,227,000 after purchasing an additional 4,813 shares during the last quarter. 94.63% of the stock is owned by institutional investors.

AltShares Merger Arbitrage ETF Price Performance

Shares of ARB stock opened at $29.59 on Thursday. The stock has a market cap of $100.01 million, a P/E ratio of 15.17 and a beta of 0.05. AltShares Merger Arbitrage ETF has a 52 week low of $27.55 and a 52 week high of $30.26. The company’s fifty day simple moving average is $29.36 and its two-hundred day simple moving average is $29.17.

About AltShares Merger Arbitrage ETF

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.