First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Short Interest Update

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 24,100 shares, a drop of 57.6% from the September 15th total of 56,900 shares. Based on an average daily volume of 13,200 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 13,200 shares, the short-interest ratio is presently 1.8 days.

First Trust Alternative Absolute Return Strategy ETF Stock Down 0.7%

First Trust Alternative Absolute Return Strategy ETF stock opened at $30.03 on Monday. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $25.19 and a 1-year high of $32.19. The company has a fifty day simple moving average of $29.99 and a 200 day simple moving average of $28.33.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were paid a $0.1759 dividend. This is a boost from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.18. This represents a $0.70 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 25th.

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 company. Janney Montgomery Scott LLC grew its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 46.2% in the first quarter. Janney Montgomery Scott LLC now owns 20,976 shares of the company’s stock valued at $607,000 after buying an additional 6,631 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 2.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 63,720 shares of the company’s stock valued at $1,843,000 after buying an additional 1,744 shares in the last quarter. LPL Financial LLC grew its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 7.3% in the first quarter. LPL Financial LLC now owns 230,355 shares of the company’s stock valued at $6,662,000 after buying an additional 15,621 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 324.5% in the first quarter. Coppell Advisory Solutions LLC now owns 185,248 shares of the company’s stock valued at $4,959,000 after buying an additional 141,611 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 47.5% in the first quarter. Benjamin Edwards Inc. now owns 41,384 shares of the company’s stock valued at $1,197,000 after buying an additional 13,326 shares in the last quarter.

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.