New York Life Investment Management LLC Has $10.48 Million Stock Holdings in AltShares Merger Arbitrage ETF $ARB

New York Life Investment Management LLC lifted its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 361,654 shares of the company’s stock after purchasing an additional 22,265 shares during the quarter. New York Life Investment Management LLC owned 0.12% of AltShares Merger Arbitrage ETF worth $10,484,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PFG Advisors increased its holdings in shares of AltShares Merger Arbitrage ETF by 50.5% during the second quarter. PFG Advisors now owns 88,061 shares of the company’s stock worth $2,509,000 after buying an additional 29,558 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of AltShares Merger Arbitrage ETF by 538.9% in the 2nd quarter. Osaic Holdings Inc. now owns 61,938 shares of the company’s stock worth $1,765,000 after acquiring an additional 52,243 shares in the last quarter. Sonoma Allocations LLC bought a new stake in AltShares Merger Arbitrage ETF during the 3rd quarter worth approximately $818,000. Steward Partners Investment Advisory LLC increased its holdings 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 purchasing an additional 12,639 shares in the last quarter. Finally, World Investment Advisors increased its holdings in AltShares Merger Arbitrage ETF by 30.7% during the 2nd quarter. World Investment Advisors now owns 9,665 shares of the company’s stock valued at $275,000 after purchasing an additional 2,271 shares in the last quarter. 94.63% of the stock is owned by institutional investors.

AltShares Merger Arbitrage ETF Stock Performance

AltShares Merger Arbitrage ETF stock opened at $29.18 on Tuesday. The business’s fifty day moving average is $29.05 and its two-hundred day moving average is $28.98. The firm has a market cap of $103.30 million, a P/E ratio of 14.96 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.

AltShares Merger Arbitrage ETF Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Friday, December 19th. Shareholders of record on Thursday, December 18th were issued a dividend of $0.1257 per share. The ex-dividend date of this dividend was Thursday, December 18th. This represents a yield of 43.0%. AltShares Merger Arbitrage ETF’s dividend payout ratio is currently 15.38%.

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.