First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Stock Price Down 1.2% – What’s Next?

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)’s share price fell 1.2% on Friday . The stock traded as low as $33.34 and last traded at $33.39. 23,456 shares were traded during trading, a decline of 32% from the average session volume of 34,551 shares. The stock had previously closed at $33.80.

First Trust Alternative Absolute Return Strategy ETF Price Performance

The company’s 50-day moving average is $33.84 and its 200-day moving average is $31.21.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a dividend of $0.1087 per share. This represents a $0.43 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Thursday, March 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the 4th quarter worth about $31,000. CoreCap Advisors LLC boosted its position in First Trust Alternative Absolute Return Strategy ETF by 20.9% in the fourth quarter. CoreCap Advisors LLC now owns 2,205 shares of the company’s stock valued at $60,000 after buying an additional 381 shares in the last quarter. Tucker Asset Management LLC bought a new stake in First Trust Alternative Absolute Return Strategy ETF during the fourth quarter worth about $101,000. Ascentis Independent Advisors bought a new stake in First Trust Alternative Absolute Return Strategy ETF during the first quarter worth about $120,000. Finally, Rossby Financial LCC increased its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 121.2% during the third quarter. Rossby Financial LCC now owns 4,887 shares of the company’s stock worth $148,000 after buying an additional 2,678 shares in the last quarter.

About First Trust Alternative Absolute Return Strategy ETF

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.