Cetera Investment Advisers Has $1.18 Million Holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Cetera Investment Advisers raised its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 19.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,658 shares of the company’s stock after purchasing an additional 6,694 shares during the period. Cetera Investment Advisers owned approximately 1.43% of AltShares Merger Arbitrage ETF worth $1,176,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its position in AltShares Merger Arbitrage ETF by 7.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,384 shares of the company’s stock valued at $406,000 after acquiring an additional 938 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of AltShares Merger Arbitrage ETF by 8.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 243,034 shares of the company’s stock worth $6,863,000 after buying an additional 19,521 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in AltShares Merger Arbitrage ETF by 158.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,732 shares of the company’s stock valued at $1,094,000 after purchasing an additional 23,722 shares during the period. LPL Financial LLC acquired a new position in shares of AltShares Merger Arbitrage ETF in the fourth quarter valued at approximately $218,000. Finally, PFG Advisors boosted its holdings in shares of AltShares Merger Arbitrage ETF by 18.2% in the first quarter. PFG Advisors now owns 58,503 shares of the company’s stock valued at $1,652,000 after buying an additional 9,020 shares during the period. 94.63% of the stock is owned by institutional investors.

AltShares Merger Arbitrage ETF Trading Up 0.2%

NYSEARCA ARB opened at $28.81 on Tuesday. The firm’s fifty day moving average price is $28.54 and its two-hundred day moving average price is $28.27. AltShares Merger Arbitrage ETF has a 1 year low of $27.03 and a 1 year high of $28.90. The firm has a market capitalization of $86.14 million, a P/E ratio of 14.77 and a beta of 0.07.

AltShares Merger Arbitrage ETF Profile

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.