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

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 29,300 shares, an increase of 6.5% from the August 31st total of 27,500 shares. Based on an average daily volume of 27,100 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its position in First Trust Alternative Absolute Return Strategy ETF by 7.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,859 shares of the company’s stock worth $2,184,000 after acquiring an additional 5,516 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in First Trust Alternative Absolute Return Strategy ETF by 19.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 44,362 shares of the company’s stock worth $1,216,000 after acquiring an additional 7,113 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF in the fourth quarter worth $116,000. RFG Advisory LLC raised its position in First Trust Alternative Absolute Return Strategy ETF by 3.5% in the first quarter. RFG Advisory LLC now owns 14,427 shares of the company’s stock worth $415,000 after acquiring an additional 484 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in First Trust Alternative Absolute Return Strategy ETF by 3.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,260 shares of the company’s stock worth $377,000 after acquiring an additional 398 shares in the last quarter.

First Trust Alternative Absolute Return Strategy ETF Price Performance

Shares of NASDAQ FAAR traded down $0.02 during mid-day trading on Tuesday, hitting $27.81. 24,005 shares of the company were exchanged, compared to its average volume of 34,698. The stock has a 50 day simple moving average of $28.32 and a 200-day simple moving average of $28.50. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $27.10 and a 1-year high of $29.44.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a $0.201 dividend. This represents a $0.80 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 26th.

First Trust Alternative Absolute Return Strategy ETF Company Profile

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.