Short Interest in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Drops By 88.0%

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 54,637 shares, a drop of 88.0% from the June 30th total of 454,871 shares. Based on an average daily volume of 34,034 shares, the short-interest ratio is presently 1.6 days. Currently, 0.9% of the company’s shares are short sold.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

NASDAQ:FAAR traded up $0.02 on Friday, hitting $31.25. The stock had a trading volume of 18,337 shares, compared to its average volume of 42,102. The company has a fifty day moving average price of $32.49 and a two-hundred day moving average price of $31.95. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $26.73 and a 1-year high of $35.81.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.144 per share. This represents a $0.58 annualized dividend and a yield of 1.8%. This is a positive change from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, June 25th.

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

Hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC lifted 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 during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 5.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,509 shares of the company’s stock worth $231,000 after acquiring an additional 465 shares during the last quarter. HBW Advisory Services LLC boosted its position in shares of First Trust Alternative Absolute Return Strategy ETF by 7.0% during the 1st quarter. HBW Advisory Services LLC now owns 8,028 shares of the company’s stock worth $271,000 after purchasing an additional 526 shares during the period. Balboa Wealth Partners boosted its position in shares of First Trust Alternative Absolute Return Strategy ETF by 3.1% during the 1st quarter. Balboa Wealth Partners now owns 17,866 shares of the company’s stock worth $603,000 after purchasing an additional 533 shares during the period. Finally, Signal Advisors Wealth LLC increased its holdings in First Trust Alternative Absolute Return Strategy ETF by 8.2% in the 4th quarter. Signal Advisors Wealth LLC now owns 10,041 shares of the company’s stock valued at $272,000 after purchasing an additional 765 shares during the last quarter.

First Trust Alternative Absolute Return Strategy ETF Company Profile

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.