First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Shares Shorted: Short Interest Up 138.5% in September

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a significant increase in short interest in September. As of September 15th, there was short interest totaling 58,821 shares, an increase of 138.5% from the August 31st total of 24,664 shares. Based on an average daily trading volume, of 44,035 shares, the short-interest ratio is presently 1.3 days. Approximately 0.8% of the shares of the stock are short sold.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC acquired a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the second quarter valued at approximately $94,000. CoreCap Advisors LLC grew its holdings in First Trust Alternative Absolute Return Strategy ETF by 18.2% during the 2nd quarter. CoreCap Advisors LLC now owns 3,419 shares of the company’s stock valued at $108,000 after buying an additional 527 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in First Trust Alternative Absolute Return Strategy ETF during the 1st quarter valued at $120,000. Harbour Investments Inc. increased its position in First Trust Alternative Absolute Return Strategy ETF by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 5,645 shares of the company’s stock worth $153,000 after buying an additional 1,349 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the first quarter worth $221,000.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

FAAR stock traded down $0.44 during midday trading on Monday, hitting $31.80. 13,493 shares of the stock were exchanged, compared to its average volume of 41,071. The stock’s 50-day moving average price is $31.43 and its 200-day moving average price is $32.57. First Trust Alternative Absolute Return Strategy ETF has a fifty-two week low of $26.73 and a fifty-two week high of $35.81.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be given a $0.1372 dividend. The ex-dividend date is Thursday, September 24th. This represents a $0.55 annualized dividend and a dividend yield of 1.7%. This is a drop from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.1440.

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.