Steward Partners Investment Advisory LLC Buys 2,375 Shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Steward Partners Investment Advisory LLC grew its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 68.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,856 shares of the company’s stock after acquiring an additional 2,375 shares during the period. Steward Partners Investment Advisory LLC owned 0.22% of AltShares Merger Arbitrage ETF worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ARB. Atria Wealth Solutions Inc. purchased a new stake in shares of AltShares Merger Arbitrage ETF in the 4th quarter worth approximately $233,000. Dynamic Advisor Solutions LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 37.4% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 15,010 shares of the company’s stock worth $413,000 after purchasing an additional 4,084 shares during the period. Columbus Macro LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 77.4% in the 4th quarter. Columbus Macro LLC now owns 25,145 shares of the company’s stock worth $692,000 after purchasing an additional 10,972 shares during the period. Atria Investments Inc lifted its position in shares of AltShares Merger Arbitrage ETF by 5.1% in the 3rd quarter. Atria Investments Inc now owns 30,045 shares of the company’s stock worth $833,000 after purchasing an additional 1,461 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 93,248 shares of the company’s stock worth $2,570,000 after purchasing an additional 1,666 shares during the period.

AltShares Merger Arbitrage ETF Price Performance

NYSEARCA:ARB opened at $28.14 on Friday. AltShares Merger Arbitrage ETF has a 52 week low of $25.81 and a 52 week high of $28.49. The firm has a 50 day moving average of $27.99 and a 200 day moving average of $27.84. The stock has a market capitalization of $80.20 million, a price-to-earnings ratio of 17.48 and a beta of 0.09.

AltShares Merger Arbitrage ETF Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 18th were issued a $0.3092 dividend. The ex-dividend date of this dividend was Wednesday, December 18th.

About AltShares Merger Arbitrage ETF

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.