Harbour Investments Inc. Cuts Stake in First Trust Merger Arbitrage ETF (NYSEARCA:MARB)

Harbour Investments Inc. cut its holdings in shares of First Trust Merger Arbitrage ETF (NYSEARCA:MARB) by 30.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,563 shares of the company’s stock after selling 6,853 shares during the quarter. Harbour Investments Inc.’s holdings in First Trust Merger Arbitrage ETF were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Clarus Wealth Advisors raised its position in First Trust Merger Arbitrage ETF by 12.5% in the 2nd quarter. Clarus Wealth Advisors now owns 12,221 shares of the company’s stock worth $241,000 after purchasing an additional 1,356 shares during the period. AE Wealth Management LLC grew its stake in shares of First Trust Merger Arbitrage ETF by 47.2% during the second quarter. AE Wealth Management LLC now owns 15,093 shares of the company’s stock valued at $296,000 after buying an additional 4,843 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of First Trust Merger Arbitrage ETF by 15.2% in the second quarter. Wedbush Securities Inc. now owns 18,760 shares of the company’s stock worth $368,000 after buying an additional 2,470 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of First Trust Merger Arbitrage ETF in the 1st quarter valued at about $581,000. Finally, Clear Harbor Asset Management LLC lifted its stake in shares of First Trust Merger Arbitrage ETF by 5.3% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 37,994 shares of the company’s stock valued at $744,000 after acquiring an additional 1,900 shares during the last quarter.

First Trust Merger Arbitrage ETF Price Performance

MARB opened at $19.66 on Monday. First Trust Merger Arbitrage ETF has a 1 year low of $19.07 and a 1 year high of $20.37. The stock’s 50 day simple moving average is $19.84 and its 200 day simple moving average is $19.81. The firm has a market cap of $46.20 million, a price-to-earnings ratio of 14.08 and a beta of 0.07.

First Trust Merger Arbitrage ETF Company Profile

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.