AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Update

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 12,874 shares, an increase of 182.3% from the June 30th total of 4,561 shares. Based on an average daily volume of 26,589 shares, the short-interest ratio is presently 0.5 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC raised its position in shares of AltShares Merger Arbitrage ETF by 76.8% in the second quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after acquiring an additional 47,879 shares during the period. Raymond James Financial Inc. purchased a new position in shares of AltShares Merger Arbitrage ETF in the 2nd quarter valued at about $2,800,000. Jane Street Group LLC acquired a new position in AltShares Merger Arbitrage ETF in the 2nd quarter worth about $363,000. Advisory Services Network LLC acquired a new position in AltShares Merger Arbitrage ETF in the 2nd quarter worth about $1,580,000. Finally, Columbus Macro LLC boosted its position in AltShares Merger Arbitrage ETF by 5.9% during the fourth quarter. Columbus Macro LLC now owns 29,353 shares of the company’s stock worth $853,000 after purchasing an additional 1,635 shares in the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Price Performance

NYSEARCA:ARB opened at $29.67 on Wednesday. The company has a 50 day moving average price of $29.60 and a 200-day moving average price of $29.38. AltShares Merger Arbitrage ETF has a 1-year low of $28.30 and a 1-year high of $30.97. The firm has a market cap of $102.06 million, a price-to-earnings ratio of 15.22 and a beta of 0.05.

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.