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

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAARGet Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 16,900 shares, an increase of 550.0% from the December 15th total of 2,600 shares. Based on an average daily trading volume, of 24,400 shares, the days-to-cover ratio is currently 0.7 days.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of FAAR stock traded up $0.27 on Wednesday, hitting $28.63. The company had a trading volume of 2,907 shares, compared to its average volume of 12,566. The company has a 50-day moving average price of $28.02 and a 200-day moving average price of $28.16. First Trust Alternative Absolute Return Strategy ETF has a twelve month low of $27.42 and a twelve month high of $29.44.

First Trust Alternative Absolute Return Strategy ETF Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.3264 dividend. The ex-dividend date was Tuesday, December 17th.

Hedge Funds Weigh In On First Trust Alternative Absolute Return Strategy ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the 2nd quarter valued at about $411,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 3.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,260 shares of the company’s stock valued at $377,000 after purchasing an additional 398 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 79.3% in the 2nd quarter. AE Wealth Management LLC now owns 52,547 shares of the company’s stock valued at $1,493,000 after purchasing an additional 23,241 shares in the last quarter. Horizon Advisory Services Inc. increased its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 4.1% in the 2nd quarter. Horizon Advisory Services Inc. now owns 635,544 shares of the company’s stock valued at $18,056,000 after purchasing an additional 24,889 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 138.1% in the 3rd quarter. Assetmark Inc. now owns 115,762 shares of the company’s stock valued at $3,222,000 after purchasing an additional 67,136 shares in the last quarter.

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.

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