Assetmark Inc. trimmed its stake in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Free Report) by 92.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,042 shares of the company’s stock after selling 246,659 shares during the period. Assetmark Inc. owned about 0.62% of AltShares Merger Arbitrage ETF worth $617,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new stake in AltShares Merger Arbitrage ETF in the 4th quarter worth approximately $50,000. Prosperity Bancshares Inc purchased a new position in shares of AltShares Merger Arbitrage ETF during the 4th quarter valued at approximately $262,000. Jane Street Group LLC acquired a new position in shares of AltShares Merger Arbitrage ETF in the 2nd quarter valued at $363,000. Apollon Wealth Management LLC acquired a new position in shares of AltShares Merger Arbitrage ETF in the 1st quarter valued at $549,000. Finally, LPL Financial LLC boosted its holdings in AltShares Merger Arbitrage ETF by 2.0% during the fourth quarter. LPL Financial LLC now owns 19,704 shares of the company’s stock worth $573,000 after buying an additional 377 shares in the last quarter. 94.63% of the stock is currently owned by hedge funds and other institutional investors.
AltShares Merger Arbitrage ETF Price Performance
NYSEARCA:ARB opened at $29.65 on Friday. AltShares Merger Arbitrage ETF has a 52 week low of $28.30 and a 52 week high of $30.97. The stock has a market capitalization of $102.00 million, a PE ratio of 15.21 and a beta of 0.05. The stock’s 50-day moving average price is $29.60 and its 200-day moving average price is $29.37.
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.
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