First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) Sees Large Increase in Short Interest

First Trust Multi-Strategy Alternative ETF (NYSEARCA:LALT) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 154,446 shares, a growth of 202.9% from the June 15th total of 50,993 shares. Based on an average daily trading volume, of 698,536 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.4% of the company’s shares are short sold.

First Trust Multi-Strategy Alternative ETF Price Performance

LALT stock traded up $0.07 during trading on Monday, reaching $24.10. The company had a trading volume of 69,356 shares, compared to its average volume of 94,650. First Trust Multi-Strategy Alternative ETF has a 52 week low of $21.28 and a 52 week high of $25.18. The business has a 50 day moving average of $24.46 and a 200 day moving average of $24.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of First Trust Multi-Strategy Alternative ETF in the 1st quarter valued at approximately $150,000. Kestra Advisory Services LLC grew its stake in First Trust Multi-Strategy Alternative ETF by 186.0% in the first 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 period. TrueWealth Advisors LLC purchased a new stake in First Trust Multi-Strategy Alternative ETF in the second quarter worth $230,000. Valeo Financial Advisors LLC bought a new position in First Trust Multi-Strategy Alternative ETF in the second quarter worth $265,000. Finally, Cetera Investment Advisers raised its holdings in First Trust Multi-Strategy Alternative ETF by 13.1% in the first 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 in 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.