First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s Why

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $32.08 and traded as low as $31.74. First Trust Alternative Absolute Return Strategy ETF shares last traded at $31.83, with a volume of 49,967 shares trading hands.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

The stock’s 50-day simple moving average is $32.19 and its 200 day simple moving average is $32.08.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a $0.1372 dividend. The ex-dividend date was Thursday, September 24th. This is a negative change from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.1440. This represents a $0.55 annualized dividend and a yield of 1.7%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new stake in shares of First Trust Alternative Absolute Return Strategy ETF during the second quarter valued at $94,000. CoreCap Advisors LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 18.2% during the second quarter. CoreCap Advisors LLC now owns 3,419 shares of the company’s stock worth $108,000 after acquiring an additional 527 shares during the last quarter. Ascentis Independent Advisors purchased a new position in First Trust Alternative Absolute Return Strategy ETF in the first quarter valued at approximately $120,000. Signature Equity Partners LLC purchased a new stake in First Trust Alternative Absolute Return Strategy ETF during the 3rd quarter worth $150,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the first quarter valued at about $221,000.

About First Trust Alternative Absolute Return Strategy ETF

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.