AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Short Interest Update

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 12,874 shares, a growth of 182.3% from the June 30th total of 4,561 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 26,589 shares, the short-interest ratio is presently 0.5 days.

AltShares Merger Arbitrage ETF Stock Performance

AltShares Merger Arbitrage ETF stock traded up $0.04 during midday trading on Tuesday, reaching $29.67. The stock had a trading volume of 8,039 shares, compared to its average volume of 15,509. The firm’s fifty day simple moving average is $29.60 and its 200-day simple moving average is $29.38. AltShares Merger Arbitrage ETF has a 1-year low of $28.30 and a 1-year high of $30.97. The stock has a market capitalization of $102.06 million, a P/E ratio of 15.22 and a beta of 0.05.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Several hedge funds have recently made changes to their positions in ARB. Diversify Advisory Services LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 76.8% in the second quarter. Diversify Advisory Services LLC now owns 110,195 shares of the company’s stock worth $3,175,000 after purchasing an additional 47,879 shares in the last quarter. Raymond James Financial Inc. bought a new position in AltShares Merger Arbitrage ETF in the second quarter valued at $2,800,000. Jane Street Group LLC bought a new position in AltShares Merger Arbitrage ETF in the second quarter valued at $363,000. Advisory Services Network LLC acquired a new stake in AltShares Merger Arbitrage ETF in the 2nd quarter valued at $1,580,000. Finally, Columbus Macro LLC increased its stake in AltShares Merger Arbitrage ETF by 5.9% in the 4th quarter. Columbus Macro LLC now owns 29,353 shares of the company’s stock valued at $853,000 after buying an additional 1,635 shares during the last quarter. 94.63% of the stock is owned by institutional investors.

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.