First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Sees Large Growth in Short Interest

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 21,523 shares, a growth of 246.5% from the February 12th total of 6,212 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 18,750 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 18,750 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.1% of the shares of the stock are sold short.

First Trust Merger Arbitrage ETF Stock Performance

Shares of NYSEARCA:MARB traded down $0.03 during trading on Friday, hitting $20.69. The company’s stock had a trading volume of 5,817 shares, compared to its average volume of 18,124. The company has a market capitalization of $39.31 million, a PE ratio of 20.69 and a beta of 0.03. The business has a 50 day moving average price of $20.70 and a two-hundred day moving average price of $20.61. First Trust Merger Arbitrage ETF has a fifty-two week low of $19.56 and a fifty-two week high of $22.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cetera Investment Advisers grew its position in shares of First Trust Merger Arbitrage ETF by 19.5% during the fourth quarter. Cetera Investment Advisers now owns 25,271 shares of the company’s stock worth $522,000 after buying an additional 4,118 shares in the last quarter. CreativeOne Wealth LLC raised its stake in First Trust Merger Arbitrage ETF by 2.9% during the 4th quarter. CreativeOne Wealth LLC now owns 21,235 shares of the company’s stock valued at $438,000 after acquiring an additional 604 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of First Trust Merger Arbitrage ETF by 26.0% in the 4th quarter. First Trust Advisors LP now owns 80,930 shares of the company’s stock worth $1,670,000 after acquiring an additional 16,721 shares during the period. Wedbush Securities Inc. raised its position in First Trust Merger Arbitrage ETF by 4.5% in the fourth quarter. Wedbush Securities Inc. now owns 16,197 shares of the company’s stock worth $334,000 after acquiring an additional 702 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of First Trust Merger Arbitrage ETF by 13.1% in the 4th quarter. LPL Financial LLC now owns 295,464 shares of the company’s stock worth $6,098,000 after acquiring an additional 34,208 shares during the last quarter.

First Trust Merger Arbitrage ETF Company Profile

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.