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

First Trust Merger Arbitrage ETF (NYSEARCA:MARBGet Free Report) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 11,065 shares, a decline of 48.6% from the February 26th total of 21,523 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 7,735 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On First Trust Merger Arbitrage ETF

Several large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in First Trust Merger Arbitrage ETF in the third quarter worth approximately $41,000. Allworth Financial LP acquired a new stake in shares of First Trust Merger Arbitrage ETF during the 4th quarter worth approximately $67,000. CIBC Private Wealth Group LLC bought a new stake in shares of First Trust Merger Arbitrage ETF in the 3rd quarter valued at $85,000. AE Wealth Management LLC bought a new stake in shares of First Trust Merger Arbitrage ETF in the 3rd quarter valued at $107,000. Finally, Simplicity Wealth LLC lifted its position in shares of First Trust Merger Arbitrage ETF by 36.9% during the 4th quarter. Simplicity Wealth LLC now owns 14,484 shares of the company’s stock valued at $299,000 after acquiring an additional 3,906 shares during the period.

First Trust Merger Arbitrage ETF Stock Up 0.4%

MARB traded up $0.09 during trading on Thursday, reaching $20.73. 1,429 shares of the stock traded hands, compared to its average volume of 17,327. The stock’s 50-day moving average is $20.70 and its 200 day moving average is $20.61. First Trust Merger Arbitrage ETF has a 12 month low of $19.56 and a 12 month high of $22.33. The stock has a market capitalization of $39.39 million, a PE ratio of 20.69 and a beta of 0.03.

About First Trust Merger Arbitrage ETF

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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.

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