First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) by 9.6% during the first quarter, Holdings Channel reports. The firm owned 49,021 shares of the company’s stock after selling 5,217 shares during the period. Bank of New York Mellon Corp’s holdings in First Trust Alternative Absolute Return Strategy ETF were worth $1,418,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 2.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 352,997 shares of the company’s stock valued at $9,887,000 after purchasing an additional 9,656 shares during the period. LPL Financial LLC lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 11.8% during the 4th quarter. LPL Financial LLC now owns 214,734 shares of the company’s stock valued at $6,015,000 after acquiring an additional 22,663 shares during the period. Cetera Investment Advisers lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 16.4% during the 4th quarter. Cetera Investment Advisers now owns 137,629 shares of the company’s stock valued at $3,855,000 after acquiring an additional 19,436 shares during the period. First Trust Advisors LP lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 29.3% during the 4th quarter. First Trust Advisors LP now owns 106,076 shares of the company’s stock valued at $2,971,000 after acquiring an additional 24,035 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in First Trust Alternative Absolute Return Strategy ETF during the 4th quarter valued at approximately $2,363,000.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of NASDAQ FAAR opened at $29.07 on Thursday. First Trust Alternative Absolute Return Strategy ETF has a 12 month low of $25.19 and a 12 month high of $31.10. The company has a 50 day simple moving average of $27.90 and a two-hundred day simple moving average of $27.82.

First Trust Alternative Absolute Return Strategy ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.1753 per share. This represents a $0.70 annualized dividend and a yield of 2.41%. This is a boost from First Trust Alternative Absolute Return Strategy ETF’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, June 26th.

First Trust Alternative Absolute Return Strategy ETF Profile

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.