First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Sees Large Drop in Short Interest

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of 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. Based on an average daily volume of 19,200 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FAAR. Captrust Financial Advisors raised 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 purchasing an additional 10,941 shares during the period. Benjamin Edwards Inc. increased its position in First Trust Alternative Absolute Return Strategy ETF by 2,475.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 14,730 shares of the company’s stock worth $410,000 after purchasing an additional 14,158 shares in the last quarter. Pinnacle Family Advisors LLC raised its holdings 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 buying an additional 1,484 shares during the period. Orion Portfolio Solutions LLC lifted its position in 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 valued at $1,153,000 after buying an additional 6,281 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in First Trust Alternative Absolute Return Strategy ETF during the third quarter worth approximately $397,000.

First Trust Alternative Absolute Return Strategy ETF Stock Up 0.1 %

Shares of FAAR stock opened at $28.66 on Monday. First Trust Alternative Absolute Return Strategy ETF has a one year low of $27.42 and a one year high of $31.10. The company has a 50 day moving average price of $28.49 and a 200 day moving average price of $28.17.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

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

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.