First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Short Interest Down 88.0% in July

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 54,637 shares, a drop of 88.0% from the June 30th total of 454,871 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 34,034 shares, the days-to-cover ratio is currently 1.6 days.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in First Trust Alternative Absolute Return Strategy ETF by 78.6% during the first quarter. Jane Street Group LLC now owns 26,733 shares of the company’s stock valued at $773,000 after buying an additional 11,765 shares during the period. Benjamin Edwards Inc. boosted its stake in First Trust Alternative Absolute Return Strategy ETF by 48.4% in the second quarter. Benjamin Edwards Inc. now owns 61,420 shares of the company’s stock valued at $1,704,000 after acquiring an additional 20,036 shares during the last quarter. FSB Premier Wealth Management Inc. boosted its stake in First Trust Alternative Absolute Return Strategy ETF by 16.6% in the second quarter. FSB Premier Wealth Management Inc. now owns 10,112 shares of the company’s stock valued at $281,000 after acquiring an additional 1,437 shares during the last quarter. First Trust Advisors LP boosted its stake in First Trust Alternative Absolute Return Strategy ETF by 17.6% in the third quarter. First Trust Advisors LP now owns 184,812 shares of the company’s stock valued at $5,632,000 after acquiring an additional 27,720 shares during the last quarter. Finally, GeoWealth Management LLC grew its position in shares of First Trust Alternative Absolute Return Strategy ETF by 3.4% during the 3rd quarter. GeoWealth Management LLC now owns 27,297 shares of the company’s stock valued at $832,000 after acquiring an additional 890 shares during the period.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

First Trust Alternative Absolute Return Strategy ETF stock traded up $0.02 during mid-day trading on Friday, reaching $31.25. 18,337 shares of the company’s stock were exchanged, compared to its average volume of 42,102. The business’s fifty day simple moving average is $32.49 and its 200 day simple moving average is $31.91. First Trust Alternative Absolute Return Strategy ETF has a one year low of $26.73 and a one year high of $35.81.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.144 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.58 annualized dividend and a dividend yield of 1.8%. This is a boost from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.11.

About First Trust Alternative Absolute Return Strategy ETF

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.