Diversify Advisory Services LLC Makes New Investment in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Diversify Advisory Services LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 59,576 shares of the company’s stock, valued at approximately $1,620,000. Diversify Advisory Services LLC owned approximately 2.16% of AltShares Merger Arbitrage ETF as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of AltShares Merger Arbitrage ETF in the 4th quarter valued at $11,996,000. New York Life Investment Management LLC grew its stake in AltShares Merger Arbitrage ETF by 12.6% in the fourth quarter. New York Life Investment Management LLC now owns 385,861 shares of the company’s stock valued at $10,322,000 after purchasing an additional 43,300 shares during the last quarter. PFG Advisors raised its holdings in AltShares Merger Arbitrage ETF by 17.9% in the fourth quarter. PFG Advisors now owns 23,460 shares of the company’s stock worth $628,000 after purchasing an additional 3,570 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in shares of AltShares Merger Arbitrage ETF by 5.3% during the first quarter. Legend Financial Advisors Inc. now owns 152,643 shares of the company’s stock valued at $4,149,000 after buying an additional 7,749 shares during the last quarter. Finally, Columbus Macro LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 3.0% during the first quarter. Columbus Macro LLC now owns 14,261 shares of the company’s stock valued at $388,000 after buying an additional 417 shares during the last quarter.

AltShares Merger Arbitrage ETF Stock Up 0.0 %

Shares of AltShares Merger Arbitrage ETF stock traded up $0.01 on Friday, reaching $27.01. The stock had a trading volume of 5,278 shares, compared to its average volume of 20,401. The stock has a market capitalization of $70.49 million, a P/E ratio of 17.48 and a beta of 0.08. The company has a 50 day moving average price of $26.84 and a 200 day moving average price of $26.85. AltShares Merger Arbitrage ETF has a 1 year low of $24.66 and a 1 year high of $27.24.

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.