First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Sees Significant Increase in Short Interest
by Jessica Moore · The Cerbat GemFirst Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR – Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 7,089 shares, a growth of 131.4% from the March 31st total of 3,063 shares. Based on an average trading volume of 32,578 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.
First Trust Alternative Absolute Return Strategy ETF Trading Down 0.3%
First Trust Alternative Absolute Return Strategy ETF stock traded down $0.10 during mid-day trading on Friday, hitting $33.94. The company had a trading volume of 16,520 shares, compared to its average volume of 36,864. The stock’s 50 day moving average price is $32.72 and its two-hundred day moving average price is $30.50. First Trust Alternative Absolute Return Strategy ETF has a 12 month low of $26.31 and a 12 month high of $34.34.
First Trust Alternative Absolute Return Strategy ETF Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a $0.1087 dividend. This represents a $0.43 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, March 26th.
Institutional Investors Weigh In On First Trust Alternative Absolute Return Strategy ETF
Several hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new stake in First Trust Alternative Absolute Return Strategy ETF in the first quarter worth $221,000. Janney Montgomery Scott LLC boosted its holdings in First Trust Alternative Absolute Return Strategy ETF by 21.9% in the first quarter. Janney Montgomery Scott LLC now owns 36,140 shares of the company’s stock worth $1,220,000 after acquiring an additional 6,484 shares in the last quarter. RFG Advisory LLC boosted its holdings in First Trust Alternative Absolute Return Strategy ETF by 47.9% in the first quarter. RFG Advisory LLC now owns 120,564 shares of the company’s stock worth $4,069,000 after acquiring an additional 39,059 shares in the last quarter. Balboa Wealth Partners boosted its holdings in First Trust Alternative Absolute Return Strategy ETF by 3.1% in the first quarter. Balboa Wealth Partners now owns 17,866 shares of the company’s stock worth $603,000 after acquiring an additional 533 shares in the last quarter. Finally, World Investment Advisors boosted its holdings in First Trust Alternative Absolute Return Strategy ETF by 38.3% in the fourth quarter. World Investment Advisors now owns 21,260 shares of the company’s stock worth $576,000 after acquiring an additional 5,886 shares in the last quarter.
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.