AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Up 77.6% in July

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 8,700 shares, agrowthof77.6% from the July 15th total of 4,900 shares. Approximately0.3% of the company’s stock are short sold. Based on an average daily volume of 12,400 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 12,400 shares, the short-interest ratio is presently 0.7 days. Approximately0.3% of the company’s stock are short sold.

AltShares Merger Arbitrage ETF Stock Performance

NYSEARCA:ARB opened at $28.88 on Wednesday. The company has a market capitalization of $86.35 million, a price-to-earnings ratio of 14.81 and a beta of 0.07. AltShares Merger Arbitrage ETF has a one year low of $27.22 and a one year high of $28.93. The stock has a 50-day simple moving average of $28.61 and a 200 day simple moving average of $28.31.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. World Investment Advisors acquired a new position in AltShares Merger Arbitrage ETF in the first quarter valued at approximately $209,000. Kingswood Wealth Advisors LLC acquired a new position in shares of AltShares Merger Arbitrage ETF during the second quarter worth approximately $221,000. LPL Financial LLC acquired a new position in shares of AltShares Merger Arbitrage ETF during the fourth quarter worth approximately $218,000. Atria Wealth Solutions Inc. boosted its position in shares of AltShares Merger Arbitrage ETF by 14.4% during the first quarter. Atria Wealth Solutions Inc. now owns 9,659 shares of the company’s stock worth $273,000 after buying an additional 1,213 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of AltShares Merger Arbitrage ETF during the second quarter worth approximately $363,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

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.