Envestnet Portfolio Solutions Inc. Increases Stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Envestnet Portfolio Solutions Inc. grew its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,446 shares of the company’s stock after purchasing an additional 2,470 shares during the period. Envestnet Portfolio Solutions Inc. owned about 0.52% of AltShares Merger Arbitrage ETF worth $370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. PFG Advisors boosted its holdings in AltShares Merger Arbitrage ETF by 10.5% during the fourth quarter. PFG Advisors now owns 49,483 shares of the company’s stock worth $1,362,000 after buying an additional 4,698 shares in the last quarter. HighTower Advisors LLC raised its position in shares of AltShares Merger Arbitrage ETF by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 94,524 shares of the company’s stock worth $2,602,000 after acquiring an additional 1,276 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of AltShares Merger Arbitrage ETF by 68.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,856 shares of the company’s stock worth $161,000 after acquiring an additional 2,375 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 4th quarter worth about $233,000. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of AltShares Merger Arbitrage ETF by 3.6% during the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 557,948 shares of the company’s stock valued at $15,360,000 after acquiring an additional 19,366 shares during the period.

AltShares Merger Arbitrage ETF Stock Down 0.1 %

Shares of AltShares Merger Arbitrage ETF stock opened at $28.11 on Thursday. The firm has a market cap of $80.39 million, a PE ratio of 17.48 and a beta of 0.09. AltShares Merger Arbitrage ETF has a twelve month low of $25.81 and a twelve month high of $28.49. The business has a 50-day moving average price of $28.04 and a 200 day moving average price of $27.87.

AltShares Merger Arbitrage ETF 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.