AltShares Merger Arbitrage ETF (NYSEARCA:ARB) Shares Acquired by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. increased its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,643 shares of the company’s stock after acquiring an additional 7,749 shares during the period. AltShares Merger Arbitrage ETF makes up 3.0% of Legend Financial Advisors Inc.’s portfolio, making the stock its 13th biggest position. Legend Financial Advisors Inc. owned approximately 0.06% of AltShares Merger Arbitrage ETF worth $4,149,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. PFG Advisors increased its stake in AltShares Merger Arbitrage ETF by 17.9% during the 4th quarter. PFG Advisors now owns 23,460 shares of the company’s stock valued at $628,000 after buying an additional 3,570 shares during the period. New York Life Investment Management LLC increased its stake in 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 buying an additional 43,300 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in AltShares Merger Arbitrage ETF during the 4th quarter valued at about $11,996,000. Finally, Columbus Macro LLC increased its stake in AltShares Merger Arbitrage ETF by 3.0% during the 1st 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.

AltShares Merger Arbitrage ETF Stock Up 0.5 %

AltShares Merger Arbitrage ETF stock traded up $0.12 during trading hours on Friday, hitting $26.92. 68,032 shares of the company traded hands, compared to its average volume of 20,411. The firm has a market cap of $70.26 million, a P/E ratio of 17.48 and a beta of 0.08. The firm’s 50-day simple moving average is $26.81 and its two-hundred day simple moving average is $26.84. AltShares Merger Arbitrage ETF has a 1-year low of $24.66 and a 1-year high of $27.24.

AltShares Merger Arbitrage ETF 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.