AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Stake Boosted by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. increased its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,666 shares of the company’s stock after purchasing an additional 3,214 shares during the period. AltShares Merger Arbitrage ETF accounts for 3.1% of Legend Financial Advisors Inc.’s portfolio, making the stock its 13th largest position. Legend Financial Advisors Inc. owned approximately 0.06% of AltShares Merger Arbitrage ETF worth $4,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARB. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in AltShares Merger Arbitrage ETF by 20.9% in the third 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 last quarter. Orion Portfolio Solutions LLC lifted its position in AltShares Merger Arbitrage ETF by 3.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 171,919 shares of the company’s stock valued at $4,766,000 after purchasing an additional 4,982 shares during the last quarter. Harbour Investments Inc. boosted its stake in AltShares Merger Arbitrage ETF by 28.9% during the 3rd quarter. Harbour Investments Inc. now owns 99,492 shares of the company’s stock valued at $2,758,000 after purchasing an additional 22,296 shares during the period. HighTower Advisors LLC grew its position in AltShares Merger Arbitrage ETF by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 93,248 shares of the company’s stock worth $2,570,000 after purchasing an additional 1,666 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its position in shares of AltShares Merger Arbitrage ETF by 3.7% during the third quarter. Diversify Advisory Services LLC now owns 63,026 shares of the company’s stock worth $1,759,000 after buying an additional 2,239 shares during the period.

AltShares Merger Arbitrage ETF Price Performance

ARB stock traded down $0.02 on Tuesday, reaching $27.72. The company’s stock had a trading volume of 42,718 shares, compared to its average volume of 22,654. The firm has a fifty day moving average of $27.77 and a two-hundred day moving average of $27.59. The company has a market capitalization of $72.35 million, a P/E ratio of 17.48 and a beta of 0.08. AltShares Merger Arbitrage ETF has a 52 week low of $25.81 and a 52 week high of $28.30.

AltShares Merger Arbitrage ETF Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 18th were paid a dividend of $0.3092 per share. The ex-dividend date was Wednesday, December 18th.

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.