Harbour Investments Inc. Has $2.76 Million Stock Position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Harbour Investments Inc. lifted its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 28.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 99,492 shares of the company’s stock after purchasing an additional 22,296 shares during the period. Harbour Investments Inc.’s holdings in AltShares Merger Arbitrage ETF were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. increased its holdings in AltShares Merger Arbitrage ETF by 20.9% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 538,582 shares of the company’s stock valued at $14,929,000 after buying an additional 93,043 shares during the period. New York Life Investment Management LLC lifted its position in AltShares Merger Arbitrage ETF by 48.6% during the 2nd quarter. New York Life Investment Management LLC now owns 302,946 shares of the company’s stock valued at $8,155,000 after purchasing an additional 99,094 shares during the period. Legend Financial Advisors Inc. lifted its position in AltShares Merger Arbitrage ETF by 5.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 161,143 shares of the company’s stock valued at $4,338,000 after purchasing an additional 8,500 shares during the period. Diversify Advisory Services LLC raised its position in shares of AltShares Merger Arbitrage ETF by 3.7% in the 3rd quarter. Diversify Advisory Services LLC now owns 63,026 shares of the company’s stock valued at $1,759,000 after acquiring an additional 2,239 shares during the period. Finally, Atria Investments Inc raised its position in shares of AltShares Merger Arbitrage ETF by 5.1% in the 3rd quarter. Atria Investments Inc now owns 30,045 shares of the company’s stock valued at $833,000 after acquiring an additional 1,461 shares during the period.

AltShares Merger Arbitrage ETF Stock Performance

NYSEARCA ARB opened at $27.87 on Wednesday. The business has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $27.35. AltShares Merger Arbitrage ETF has a 52-week low of $25.81 and a 52-week high of $28.30. The stock has a market cap of $72.75 million, a price-to-earnings ratio of 17.48 and a beta of 0.08.

AltShares Merger Arbitrage ETF Company 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.