ProShares Merger ETF (BATS:MRGR – Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,448 shares, a growth of 76.1% from the September 30th total of 1,390 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,308 shares, the days-to-cover ratio is presently 1.9 days.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC grew its position in ProShares Merger ETF by 11.6% in the 1st quarter. Kestra Advisory Services LLC now owns 5,319 shares of the company’s stock valued at $240,000 after buying an additional 553 shares in the last quarter. City Center Advisors LLC lifted its holdings in shares of ProShares Merger ETF by 24.0% during the 2nd quarter. City Center Advisors LLC now owns 7,541 shares of the company’s stock worth $343,000 after acquiring an additional 1,460 shares during the period. Syntegra Private Wealth Group LLC lifted its holdings in ProShares Merger ETF by 52.9% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 32,385 shares of the company’s stock valued at $1,460,000 after purchasing an additional 11,206 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of ProShares Merger ETF by 83.6% in the first quarter. Royal Bank of Canada now owns 38,550 shares of the company’s stock valued at $1,738,000 after buying an additional 17,558 shares during the last quarter.
ProShares Merger ETF Trading Up 0.3%
Shares of MRGR opened at $45.45 on Friday. ProShares Merger ETF has a 12-month low of $44.37 and a 12-month high of $46.22. The firm has a 50-day moving average price of $45.32 and a 200 day moving average price of $45.18. The firm has a market capitalization of $11.36 million, a P/E ratio of 24.24 and a beta of 0.04.
ProShares Merger ETF Company Profile
The ProShares Merger ETF (MRGR) is an exchange-traded fund that is based on the S&P Merger Arbitrage index. The fund tracks an index of developed-market equities involved in merger deals, with long exposure to target firms and short exposure to acquiring firms. The fund is net long and hedges FX risk. MRGR was launched on Dec 11, 2012 and is managed by ProShares.
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