AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Position Lifted by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 93,248 shares of the company’s stock after purchasing an additional 1,666 shares during the period. HighTower Advisors LLC owned 3.57% of AltShares Merger Arbitrage ETF worth $2,570,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ARB. Cantor Fitzgerald Investment Advisors L.P. increased its holdings 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. New York Life Investment Management LLC increased its holdings in shares of AltShares Merger Arbitrage ETF by 48.6% in 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 acquiring an additional 99,094 shares during the last quarter. Legend Financial Advisors Inc. raised its position in shares of 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 acquiring an additional 8,500 shares in the last quarter. Harbour Investments Inc. lifted its stake in AltShares Merger Arbitrage ETF by 28.9% during the third quarter. Harbour Investments Inc. now owns 99,492 shares of the company’s stock worth $2,758,000 after purchasing an additional 22,296 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in AltShares Merger Arbitrage ETF by 3.7% in the third quarter. Diversify Advisory Services LLC now owns 63,026 shares of the company’s stock worth $1,759,000 after purchasing an additional 2,239 shares during the period.

AltShares Merger Arbitrage ETF Price Performance

ARB stock opened at $27.77 on Friday. The firm has a market cap of $72.47 million, a price-to-earnings ratio of 17.48 and a beta of 0.08. AltShares Merger Arbitrage ETF has a 1-year low of $25.81 and a 1-year high of $28.30. The firm has a fifty day moving average price of $27.87 and a two-hundred day moving average price of $27.50.

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.