AltShares Merger Arbitrage ETF $ARB Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 25.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,701 shares of the company’s stock after selling 3,683 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AltShares Merger Arbitrage ETF were worth $305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. World Investment Advisors acquired a new stake in shares of AltShares Merger Arbitrage ETF during the first quarter worth $209,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of AltShares Merger Arbitrage ETF during the second quarter worth $221,000. Atria Wealth Solutions Inc. raised its position in shares of AltShares Merger Arbitrage ETF by 14.4% during the first quarter. Atria Wealth Solutions Inc. now owns 9,659 shares of the company’s stock worth $273,000 after purchasing an additional 1,213 shares during the period. Advisors Preferred LLC acquired a new stake in shares of AltShares Merger Arbitrage ETF during the first quarter worth $464,000. Finally, Columbus Macro LLC raised its position in shares of AltShares Merger Arbitrage ETF by 5.2% during the second quarter. Columbus Macro LLC now owns 24,847 shares of the company’s stock worth $708,000 after purchasing an additional 1,230 shares during the period. 94.63% of the stock is owned by institutional investors and hedge funds.

AltShares Merger Arbitrage ETF Stock Up 0.3%

Shares of AltShares Merger Arbitrage ETF stock opened at $29.06 on Friday. The stock’s fifty day moving average is $28.96 and its 200-day moving average is $28.59. The firm has a market capitalization of $90.96 million, a PE ratio of 14.90 and a beta of 0.07. AltShares Merger Arbitrage ETF has a 12-month low of $27.27 and a 12-month high of $30.26.

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.