AltShares Merger Arbitrage ETF Plans Annual Dividend of $0.13 (NYSEARCA:ARB)

AltShares Merger Arbitrage ETF (NYSEARCA:ARB) announced an annual dividend on Wednesday, December 17th. Stockholders of record on Thursday, December 18th will be given a dividend of 0.1257 per share on Friday, December 19th. This represents a dividend yield of 43.0%. The ex-dividend date is Thursday, December 18th.

AltShares Merger Arbitrage ETF Stock Down 0.1%

Shares of NYSEARCA ARB opened at $29.11 on Thursday. The firm’s fifty day moving average is $29.02 and its 200 day moving average is $28.83. AltShares Merger Arbitrage ETF has a 52 week low of $27.27 and a 52 week high of $30.26. The company has a market cap of $91.11 million, a price-to-earnings ratio of 14.93 and a beta of 0.05.

Hedge Funds Weigh In On AltShares Merger Arbitrage ETF

Several hedge funds and other institutional investors have recently modified their holdings of ARB. HighTower Advisors LLC grew its stake in shares of AltShares Merger Arbitrage ETF by 10.6% in the first quarter. HighTower Advisors LLC now owns 104,580 shares of the company’s stock worth $2,953,000 after purchasing an additional 10,056 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in AltShares Merger Arbitrage ETF by 6.6% in the 1st quarter. Legend Financial Advisors Inc. now owns 171,240 shares of the company’s stock worth $4,836,000 after buying an additional 10,574 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in shares of AltShares Merger Arbitrage ETF in the 2nd quarter worth approximately $221,000. Columbus Macro LLC grew its position in shares of AltShares Merger Arbitrage ETF by 5.2% in the 2nd quarter. Columbus Macro LLC now owns 24,847 shares of the company’s stock worth $708,000 after buying an additional 1,230 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of AltShares Merger Arbitrage ETF by 30.7% during the second quarter. World Investment Advisors now owns 9,665 shares of the company’s stock valued at $275,000 after buying an additional 2,271 shares during the period. 94.63% of the stock is owned by institutional investors.

AltShares Merger Arbitrage ETF Company 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.