AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Up 27.7% in May

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 6,000 shares, an increase of 27.7% from the May 15th total of 4,700 shares. Based on an average trading volume of 11,600 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Trading of AltShares Merger Arbitrage ETF

Large investors have recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisors L.P. raised its position in shares of AltShares Merger Arbitrage ETF by 4.3% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 582,196 shares of the company’s stock worth $16,441,000 after acquiring an additional 24,248 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in AltShares Merger Arbitrage ETF by 8.7% during the first quarter. Envestnet Asset Management Inc. now owns 243,034 shares of the company’s stock worth $6,863,000 after purchasing an additional 19,521 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of AltShares Merger Arbitrage ETF by 7.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 184,278 shares of the company’s stock valued at $5,073,000 after purchasing an additional 12,359 shares during the period. Legend Financial Advisors Inc. grew its position in AltShares Merger Arbitrage ETF by 6.6% during the first quarter. Legend Financial Advisors Inc. now owns 171,240 shares of the company’s stock worth $4,836,000 after buying an additional 10,574 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of AltShares Merger Arbitrage ETF by 8.6% in the 1st quarter. Harbour Investments Inc. now owns 113,576 shares of the company’s stock worth $3,207,000 after purchasing an additional 8,946 shares in the last quarter.

AltShares Merger Arbitrage ETF Price Performance

Shares of NYSEARCA ARB opened at $28.37 on Friday. The firm has a market cap of $86.81 million, a price-to-earnings ratio of 17.48 and a beta of 0.09. AltShares Merger Arbitrage ETF has a one year low of $25.81 and a one year high of $28.75. The stock’s fifty day moving average price is $28.24 and its two-hundred day moving average price is $28.03.

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.