First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Stock Short Interest Declines 41.6%

by · The Markets Daily

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR – Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 34,370 shares, a decrease of 41.6% from the September 15th total of 58,821 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 42,403 shares, the short-interest ratio is presently 0.8 days.

First Trust Alternative Absolute Return Strategy ETF Price Performance

First Trust Alternative Absolute Return Strategy ETF stock traded up $0.17 during trading hours on Friday, reaching $32.78. The stock had a trading volume of 39,178 shares, compared to its average volume of 42,192. The company has a fifty day simple moving average of $31.84 and a 200-day simple moving average of $32.47. First Trust Alternative Absolute Return Strategy ETF has a 52 week low of $26.73 and a 52 week high of $35.81.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a dividend of $0.1372 per share. This is a drop from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.1440. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, September 24th.

Institutional Trading of First Trust Alternative Absolute Return Strategy ETF

Several large investors have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the 2nd quarter valued at $94,000. Fig Financial Advisory Services Inc. ADV purchased a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the 3rd quarter worth about $2,503,000. RFG Advisory LLC boosted its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 40.4% during the 2nd quarter. RFG Advisory LLC now owns 169,240 shares of the company’s stock valued at $5,351,000 after purchasing an additional 48,676 shares in the last quarter. Gateway Wealth Partners LLC boosted its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 128.3% during the 1st quarter. Gateway Wealth Partners LLC now owns 75,573 shares of the company’s stock valued at $2,550,000 after purchasing an additional 42,472 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of First Trust Alternative Absolute Return Strategy ETF by 11.0% during the first quarter. First Trust Advisors LP now owns 302,639 shares of the company’s stock valued at $10,213,000 after buying an additional 29,955 shares during the period.

About First Trust Alternative Absolute Return Strategy ETF

(Get Free Report)

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.

Further Reading