Short Interest in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Drops By 19.4%

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 17,000 shares, a decline of 19.4% from the February 28th total of 21,100 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 19,200 shares, the days-to-cover ratio is currently 0.9 days.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of First Trust Alternative Absolute Return Strategy ETF stock traded down $0.12 during trading hours on Wednesday, hitting $28.80. The company’s stock had a trading volume of 21,339 shares, compared to its average volume of 26,368. First Trust Alternative Absolute Return Strategy ETF has a twelve month low of $27.42 and a twelve month high of $31.10. The firm has a fifty day moving average of $28.50 and a 200-day moving average of $28.18.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a $0.1533 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.61 dividend on an annualized basis and a yield of 2.13%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 8.1% in the 3rd quarter. Captrust Financial Advisors now owns 145,648 shares of the company’s stock worth $4,053,000 after acquiring an additional 10,941 shares during the last quarter. Benjamin Edwards Inc. raised its position in First Trust Alternative Absolute Return Strategy ETF by 2,475.2% in the third quarter. Benjamin Edwards Inc. now owns 14,730 shares of the company’s stock valued at $410,000 after purchasing an additional 14,158 shares during the period. Pinnacle Family Advisors LLC lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 6.4% during the third quarter. Pinnacle Family Advisors LLC now owns 24,798 shares of the company’s stock worth $690,000 after purchasing an additional 1,484 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of First Trust Alternative Absolute Return Strategy ETF by 17.9% during the third quarter. Orion Portfolio Solutions LLC now owns 41,416 shares of the company’s stock worth $1,153,000 after buying an additional 6,281 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the third quarter valued at $397,000.

First Trust Alternative Absolute Return Strategy ETF Company Profile

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.