First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Sees Significant Decrease in Short Interest

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 6,212 shares, a drop of 55.0% from the January 29th total of 13,795 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 26,760 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 26,760 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.3% of the shares of the company are sold short.

First Trust Merger Arbitrage ETF Stock Performance

Shares of MARB traded down $0.01 during mid-day trading on Friday, hitting $20.70. 5,489 shares of the company traded hands, compared to its average volume of 20,802. The stock has a market cap of $39.33 million, a price-to-earnings ratio of 20.69 and a beta of 0.03. The stock has a 50-day moving average price of $20.68 and a two-hundred day moving average price of $20.61. First Trust Merger Arbitrage ETF has a 1 year low of $19.56 and a 1 year high of $22.33.

Hedge Funds Weigh In On First Trust Merger Arbitrage ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Coppell Advisory Solutions LLC boosted its position in First Trust Merger Arbitrage ETF by 36.4% in the second quarter. Coppell Advisory Solutions LLC now owns 110,466 shares of the company’s stock worth $2,249,000 after purchasing an additional 29,464 shares during the last quarter. Assetmark Inc. increased its position in shares of First Trust Merger Arbitrage ETF by 15.9% during the 2nd quarter. Assetmark Inc. now owns 93,082 shares of the company’s stock valued at $1,903,000 after purchasing an additional 12,741 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of First Trust Merger Arbitrage ETF by 36.9% in the 4th quarter. Simplicity Wealth LLC now owns 14,484 shares of the company’s stock worth $299,000 after purchasing an additional 3,906 shares during the period. RFG Advisory LLC boosted its holdings in shares of First Trust Merger Arbitrage ETF by 21.2% in the fourth quarter. RFG Advisory LLC now owns 29,907 shares of the company’s stock worth $617,000 after buying an additional 5,239 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of First Trust Merger Arbitrage ETF in the fourth quarter worth approximately $67,000.

First Trust Merger Arbitrage ETF Company Profile

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.