Diversify Advisory Services LLC Buys 1,211 Shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Diversify Advisory Services LLC increased its holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,787 shares of the company’s stock after buying an additional 1,211 shares during the period. Diversify Advisory Services LLC owned about 2.33% of AltShares Merger Arbitrage ETF worth $1,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Columbus Macro LLC grew its position in AltShares Merger Arbitrage ETF by 3.0% during the first quarter. Columbus Macro LLC now owns 14,261 shares of the company’s stock valued at $388,000 after buying an additional 417 shares during the period. Legend Financial Advisors Inc. raised its holdings in shares of AltShares Merger Arbitrage ETF by 5.3% during the 1st quarter. Legend Financial Advisors Inc. now owns 152,643 shares of the company’s stock worth $4,149,000 after acquiring an additional 7,749 shares during the period. New York Life Investment Management LLC boosted its position in shares of AltShares Merger Arbitrage ETF by 12.6% during the 4th quarter. New York Life Investment Management LLC now owns 385,861 shares of the company’s stock valued at $10,322,000 after acquiring an additional 43,300 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of AltShares Merger Arbitrage ETF in the fourth quarter valued at about $11,996,000.

AltShares Merger Arbitrage ETF Trading Down 0.1 %

AltShares Merger Arbitrage ETF stock traded down $0.02 during midday trading on Friday, hitting $27.40. 4,107 shares of the stock were exchanged, compared to its average volume of 18,543. The stock’s 50-day simple moving average is $27.06 and its 200 day simple moving average is $26.94. AltShares Merger Arbitrage ETF has a fifty-two week low of $25.56 and a fifty-two week high of $27.44. The stock has a market capitalization of $71.51 million, a price-to-earnings ratio of 17.48 and a beta of 0.08.

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.