First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Short Interest Update

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 24,664 shares, a drop of 55.4% from the August 15th total of 55,355 shares. Based on an average daily volume of 26,805 shares, the short-interest ratio is currently 0.9 days. Currently, 0.4% of the company’s shares are short sold.

First Trust Alternative Absolute Return Strategy ETF Trading Down 0.6%

Shares of FAAR traded down $0.20 during midday trading on Wednesday, hitting $32.24. 12,000 shares of the stock were exchanged, compared to its average volume of 41,134. First Trust Alternative Absolute Return Strategy ETF has a 52-week low of $26.73 and a 52-week high of $35.81. The stock has a fifty day simple moving average of $31.27 and a 200 day simple moving average of $32.54.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a dividend of $0.144 per share. This represents a $0.58 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.11.

Hedge Funds Weigh In On First Trust Alternative Absolute Return Strategy ETF

Several institutional investors have recently bought and sold shares of the company. Gateway Wealth Partners LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 128.3% during the 1st quarter. Gateway Wealth Partners LLC now owns 75,573 shares of the company’s stock worth $2,550,000 after buying an additional 42,472 shares during the period. First Trust Advisors LP boosted its position in First Trust Alternative Absolute Return Strategy ETF by 11.0% in the 1st quarter. First Trust Advisors LP now owns 302,639 shares of the company’s stock valued at $10,213,000 after buying an additional 29,955 shares during the period. Coppell Advisory Solutions LLC acquired a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the second quarter worth $94,000. Cetera Investment Advisers grew its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 9.1% in the first quarter. Cetera Investment Advisers now owns 247,593 shares of the company’s stock worth $8,356,000 after acquiring an additional 20,736 shares in the last quarter. Finally, RFG Advisory LLC increased its position in shares of First Trust Alternative Absolute Return Strategy ETF by 40.4% during the second quarter. RFG Advisory LLC now owns 169,240 shares of the company’s stock worth $5,351,000 after acquiring an additional 48,676 shares during the period.

First Trust Alternative Absolute Return Strategy ETF Company Profile

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.