Bank of New York Mellon Corp Cuts Position in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)

Bank of New York Mellon Corp cut its stake in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,021 shares of the company’s stock after selling 5,217 shares during the quarter. Bank of New York Mellon Corp owned about 1.40% of First Trust Alternative Absolute Return Strategy ETF worth $1,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the 4th quarter worth $2,363,000. Simplicity Wealth LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the 1st quarter worth $1,169,000. First Trust Advisors LP grew its stake in First Trust Alternative Absolute Return Strategy ETF by 29.3% during the 4th quarter. First Trust Advisors LP now owns 106,076 shares of the company’s stock worth $2,971,000 after buying an additional 24,035 shares during the last quarter. LPL Financial LLC grew its stake in First Trust Alternative Absolute Return Strategy ETF by 11.8% during the 4th quarter. LPL Financial LLC now owns 214,734 shares of the company’s stock worth $6,015,000 after buying an additional 22,663 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the 1st quarter worth $604,000.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of FAAR stock opened at $29.07 on Thursday. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $25.19 and a 1-year high of $31.10. The stock’s fifty day moving average price is $27.90 and its 200 day moving average price is $27.82.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a dividend of $0.1753 per share. This represents a $0.70 annualized dividend and a yield of 2.41%. This is an increase from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, June 26th.

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.