AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Sees Large Growth in Short Interest

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

Institutional Trading of AltShares Merger Arbitrage ETF

Several institutional investors have recently made changes to their positions in ARB. Assetmark Inc. boosted its stake in AltShares Merger Arbitrage ETF by 1,131.1% in the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after acquiring an additional 245,956 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 1st quarter worth approximately $3,773,000. Raymond James Financial Inc. bought a new stake in shares of AltShares Merger Arbitrage ETF in the 2nd quarter worth approximately $2,800,000. Advisory Services Network LLC purchased a new position in AltShares Merger Arbitrage ETF in the second quarter valued at approximately $1,580,000. Finally, Diversify Advisory Services LLC lifted its stake in 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 valued at $3,175,000 after purchasing an additional 47,879 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Price Performance

Shares of ARB stock traded down $0.02 during trading hours on Monday, reaching $29.63. The company had a trading volume of 1,179 shares, compared to its average volume of 15,430. The company has a market cap of $101.93 million, a price-to-earnings ratio of 15.19 and a beta of 0.05. AltShares Merger Arbitrage ETF has a 12 month low of $28.30 and a 12 month high of $30.97. The business has a fifty day simple moving average of $29.60 and a 200-day simple moving average of $29.38.

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.