Orion Portfolio Solutions LLC Has $5.07 Million Stock Position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Orion Portfolio Solutions LLC increased its holdings in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 184,278 shares of the company’s stock after acquiring an additional 12,359 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.07% of AltShares Merger Arbitrage ETF worth $5,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new stake in shares of AltShares Merger Arbitrage ETF in the fourth quarter valued at about $218,000. Harbour Investments Inc. increased its position in shares of AltShares Merger Arbitrage ETF by 5.2% during the 4th quarter. Harbour Investments Inc. now owns 104,630 shares of the company’s stock worth $2,880,000 after purchasing an additional 5,138 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of AltShares Merger Arbitrage ETF by 22.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,446 shares of the company’s stock valued at $370,000 after acquiring an additional 2,470 shares during the period. PFG Advisors increased its stake in shares of AltShares Merger Arbitrage ETF by 10.5% during the 4th quarter. PFG Advisors now owns 49,483 shares of the company’s stock worth $1,362,000 after purchasing an additional 4,698 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in AltShares Merger Arbitrage ETF by 1.4% in the 4th quarter. HighTower Advisors LLC now owns 94,524 shares of the company’s stock valued at $2,602,000 after acquiring an additional 1,276 shares during the period.

AltShares Merger Arbitrage ETF Price Performance

Shares of AltShares Merger Arbitrage ETF stock opened at $28.19 on Friday. The business has a fifty day simple moving average of $28.06 and a two-hundred day simple moving average of $27.88. AltShares Merger Arbitrage ETF has a 1 year low of $25.81 and a 1 year high of $28.49. The company has a market capitalization of $80.62 million, a price-to-earnings ratio of 17.48 and a beta of 0.09.

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.