Raymond James Financial Inc. Acquires Shares of 84,379 First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)

Raymond James Financial Inc. bought a new position in shares of First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 84,379 shares of the company’s stock, valued at approximately $2,363,000.

A number of other hedge funds also recently modified their holdings of the stock. Gateway Wealth Partners LLC lifted its position in First Trust Alternative Absolute Return Strategy ETF by 1.9% during the fourth quarter. Gateway Wealth Partners LLC now owns 22,216 shares of the company’s stock worth $622,000 after purchasing an additional 411 shares during the period. Park Avenue Securities LLC boosted its position in shares of First Trust Alternative Absolute Return Strategy ETF by 4.3% during the 4th quarter. Park Avenue Securities LLC now owns 15,800 shares of the company’s stock worth $443,000 after acquiring an additional 647 shares in the last quarter. Pinnacle Family Advisors LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 6.4% in the third quarter. Pinnacle Family Advisors LLC now owns 24,798 shares of the company’s stock valued at $690,000 after acquiring an additional 1,484 shares during the last quarter. Iams Wealth Management LLC raised its position in First Trust Alternative Absolute Return Strategy ETF by 8.0% during the fourth quarter. Iams Wealth Management LLC now owns 21,867 shares of the company’s stock valued at $612,000 after purchasing an additional 1,629 shares in the last quarter. Finally, TFB Advisors LLC raised its position in First Trust Alternative Absolute Return Strategy ETF by 26.3% during the fourth quarter. TFB Advisors LLC now owns 9,136 shares of the company’s stock valued at $256,000 after purchasing an additional 1,904 shares in the last quarter.

First Trust Alternative Absolute Return Strategy ETF Stock Up 0.1 %

Shares of FAAR stock opened at $28.66 on Friday. First Trust Alternative Absolute Return Strategy ETF has a fifty-two week low of $27.42 and a fifty-two week high of $31.10. The stock’s fifty day moving average price is $28.49 and its two-hundred day moving average price is $28.17.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be issued a $0.1533 dividend. The ex-dividend date is Thursday, March 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 2.14%.

About First Trust Alternative Absolute Return Strategy ETF

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.