First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Sees Significant Increase in Short Interest

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,600 shares, an increase of 32.0% from the October 31st total of 5,000 shares. Based on an average trading volume of 35,300 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Alternative Absolute Return Strategy ETF Price Performance

Shares of FAAR opened at $27.94 on Monday. First Trust Alternative Absolute Return Strategy ETF has a one year low of $27.10 and a one year high of $29.44. The stock has a 50-day moving average price of $27.84 and a 200 day moving average price of $28.21.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.201 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Trading of First Trust Alternative Absolute Return Strategy ETF

A number of hedge funds have recently made changes to their positions in the stock. Hershey Financial Advisers LLC bought a new position in First Trust Alternative Absolute Return Strategy ETF during the 2nd quarter valued at $51,000. TFB Advisors LLC bought a new position in shares of First Trust Alternative Absolute Return Strategy ETF during the third quarter worth about $201,000. Benjamin F. Edwards & Company Inc. grew its stake in First Trust Alternative Absolute Return Strategy ETF by 3.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,260 shares of the company’s stock worth $377,000 after purchasing an additional 398 shares in the last quarter. Focus Financial Network Inc. increased its holdings in First Trust Alternative Absolute Return Strategy ETF by 8.1% in the third quarter. Focus Financial Network Inc. now owns 13,926 shares of the company’s stock valued at $388,000 after buying an additional 1,040 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in First Trust Alternative Absolute Return Strategy ETF during the third quarter valued at approximately $397,000.

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.